By and  on August 11, 2011

Liz Claiborne Inc. raised $58.4 million in cash from Elizabeth Arden Inc., agreeing to accept lower royalty payments on fragrance businesses tied to its brands — including Juicy Couture and Lucky Brand — and transferring the trademark for its Curve fragrance to Arden.

The deal will help Claiborne pay down some of its debt and clears the way for Arden to invest more into the licensed fragrance brands. Arden also reported Thursday that both fourth-quarter and year-end profits more than doubled.

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