No brand before or after it captured the zeitgeist quite like Juicy Couture. So why did the brand, a business with almost $500 million in annual revenue, sell this autumn in a $195 million cash deal to a licensing group better known for working with brands like Marilyn Monroe and Elvis Presley?
NEW YORK, United States — Fifth & Pacific Cos Inc on Tuesday reported lower-than-expected second-quarter results as its Juicy Couture urban fashion brand continued to languish.
NEW YORK, United States — Fifth & Pacific Cos Inc on Thursday reported a smaller first-quarter loss, as sales of its upscale Kate Spade handbag and clothing brand soared and the company offered fewer discounts on its Lucky Brand items.
LOS ANGELES, United States — Fifth & Pacific Cos.’s Lucky Brand and Juicy Couture labels are attracting interest from private-equity firms and strategic buyers including VF Corp., said people with knowledge of the matter.
Fifth & Pacific Cos Inc on Thursday reported a holiday-quarter profit that came in slightly above its own projections and reaffirmed its recent 2013 forecast. The company, once known as Liz Claiborne, confirmed its preliminary fourth-quarter sales performance, given in January. Same-store sales rose 27 percent at kate spade, its fast-growing fashion brand, and rose 3 percent at Lucky Brand, a more casual label. Same-store sales
Can Private Equity and Fashion Look Good Together? (Bloomberg) “Private equity and fashion are a bad combo, kind of like pairing a Dior dress with Ugg boots. That at least was the established wisdom until March, when Apax Partners sold Tommy Hilfiger for $3 billion, quintupling its investment in the American clothier in just four years.” All Saints secures extra funding on strong results (Retail Week) “Fashion
It’s a Man’s World (Newsweek) “Just as some educators believe that single-sex classrooms are better for learning, some luxury brands are finding that single-sex boutiques boost the bottom line. While it’s not exactly a man’s world on Main Street, luxury brands are increasingly offering greater exclusivity in men-only shops.” Versace Agrees on Job Cuts, Unveils Lower-Priced Women’s Line (Bloomberg)
Pawnshops doing brisk business (USA Today) According to USA Today, "the miserable economy is a boon for pawnshops and consignment stores across the USA." The Price of Luxury: Debt Burden Strains More European Firms (WWD) European luxury goods firms with high leverage are at risk. Consumer confidence hits new low (Drapers) According to Drapers, "one in five people optimistic that the recession will be over within a year." Juicy Couture’s Decadent Chic: Recession? What Recession? (WSJ) Juicy Couture unveils an over the top store in a difficult time for the economy and retail. Pawnshop, photo courtesy of USA Today.