Liz Claiborne Inc. said early Thursday that it reached an agreement with a group of investors to sell its Ellen Tracy brand for $42.3 million.
The investors include Radius Partners LLC, William Sweedler of Windsong Brands LLC, Barry Sternlicht and Marvin Traub.
The deal involves selling "substantially all of the assets and liabilities of the Ellen Tracy brand for a purchase price consisting of a $27.3 million cash payment subject to inventory adjustment payable at closing, and a contingent cash payment of up to $15 million based on brand performance from 2008 through 2012," Liz Claiborne stated.
Liz Claiborne added that it will "retain approximately $8.2 million in net working capital, excluding inventory."
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
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