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?
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
This Man Wants to Clothe the Planet (WSJ Magazine) “Yanai is refreshingly open about his goals these days: making Uniqlo the number-one apparel retailer in the world. His target—$50 billion in yearly revenue by 2020—will require whiplash gains above Uniqlo’s current revenue of $12 billion, driving the company ahead of front-runners Inditex.” Service with a smile, J. Crew CEO Drexler says customers should expect it
Betsey Johnson Declares Bankruptcy (Forbes) “A spokesperson at Betsey Johnson has confirmed that the 34-year-old fashion line has filed for bankruptcy protection. The filing will likely result in the dismissal of 350 employees and the closure of most of the brand’s 63 stores.” Chanel sticks to being creative (Daily Yomiuri) “In the 64th installment in a series on the world’s high-end brands, Bruno Pavlovsky,
How Escada Clawed Its Way Back From Bankruptcy (Die Welt) “With Berlin Fashion Week — the first big fashion event of 2012 — just a week away, excitement is mounting in the world of clothing design. The energy is particularly high at Escada, as the Munich-based brand’s new sports line will open the catwalk show in the German capital… But after being written off as dead, the global brand is decidedly back in
For Liz Claiborne, will new name bring better luck? (MSN Money) “When Liz Claiborne sold its namesake brand to J.C. Penney late last year for $288 million, it became obvious that a name change was in order. The company indeed announced Wednesday that starting in May it would become Fifth and Pacific. The name reflects New York (Fifth Avenue) and Pacific (The Pacific Ocean). It is not a bad corporate name, but it doesn’t
Fast Retailing sets sights on US expansion (FT) “Fast Retailing is poised to expand aggressively in the US, where it is opening its largest Uniqlo store on Friday, as part of its plan to globalise operations rapidly and reduce dependence on its home market… Fast Retailing, which made its name selling high quality, affordable, casual clothes, is accelerating its overseas build-up, with plans to open 200 to 300 stores
Targeting Younger Buyers, Liz Claiborne Hits Snag (WSJ) “In an effort to attract a younger audience, Mr. McComb decided to focus on the company’s contemporary brands with the most potential… But he made a series of strategic blunders… The decision to realign the company’s portfolio ‘was a disaster waiting to happen’.” Fashion Tries on Zero Waste Design (NY Times) “Zero-waste