Fifth & Pacific sells Juicy Couture for $195 million to Authentic Brands Group
Fifth & Pacific Group, formerly known as the Liz Clairborne Inc. has sold ailing premium fashion brand Juicy Couture to Authentic Brands Group, thus being able to focus on its fastest growing brand Kate Spade. Once a hot brand, Juicy Couture has fallen out of the limelight in recent seasons, unable to update its velour sweatsuit image in shoppers’ minds and recapture the growth it enjoyed in the last decade.
Authentic Brands’ deal includes the brand’s intellectual property assets as well as a short term licensing agreement through early next year to allow for ownership transition. Among Juicy Couture most valuable assets is the lease it holds on its Fifth Avenue flagship store, a much coveted flagship location for any major brand.