Liz Claiborne Inc. is close to concluding the fates of several of its brands under review.
After accepting formal offers on the nine remaining brands under review two weeks ago, the $4.99 billion firm has settled on buyers for some of them, including Ellen Tracy and Laundry, and is contemplating keeping bridge brand Dana Buchman and licensing it, according to sources.
American Capital Strategies Ltd. is believed to have won the bid for Ellen Tracy, besting G-III Apparel Group Ltd., which has the Ellen Tracy licenses for outerwear, said a source. American Capital, which recently bought Appleseed's Brands, a private label apparel brand for women and men ages 55 and older, did not return calls seeking comment Thursday.
The Laundry buyer is unknown, but Schottenstein Stores, which had put in an offer for the dress brand, did not win the bid, according to another source. Other bidders, including Cerberus Capital Management LP and Perry Ellis International Inc., have dropped out of the bidding, according to sources.
The second phase of the auction process, which began when Claiborne chief executive officer William L. McComb revealed his intention to sell 16 of the company's brands, involves the nine contemporary, better, bridge and active labels: Dana Buchman, Ellen Tracy, Sigrid Olsen, Enyce, Prana, Mac & Jac, Kensie, Laundry and C&C California.
Although the conglomerate is giving preferential treatment to bidders interested in multiple brands, the first group of labels appears to be going to individual buyers. Enyce, Prana and C&C California also all appear to be getting sold individually, according to a source.
Claiborne completed the first phase — involving the seven moderate brands — in September. The company dissolved one brand, blended two others into existing ones and sold four — Emma James, Tapemeasure, JH Collectibles and Intuitions — to the Regatta division of Li & Fung USA, a subsidiary of Li & Fung Ltd. Li & Fung president Rick Darling has denied his company was bidding in the second phase.
Claiborne has set the end of the first quarter next year as a deadline to conclude the review process. The company declined comment.
EXCLUSIVE: Two and half months after John Targon, cofounder and codesigner of Baja East, was hired as creative director of the contemporary division at Marc Jacobs, he has left the company, WWD has learned. Marc Jacobs International, which is owned by LVMH Moët Hennessy Louis Vuitton, confirmed Targon’s departure in a statement: “John Targon is a talented designer and we appreciate the work he has done here. Ultimately working together did not make sense for the brand and we wish him the best.” Read the story by @jessiredale, link in bio. #wwdnews
@theluxurycollection is officially launching a collection, tapping Sofia Sanchez de Betak for the capsule. Over 30 styles will be featured in the Chufy x The Luxury Collection, debuting next month at Bergdorf Goodman, The Webster, FiveStory and more. De Betak, known as “@chufy,” drew inspiration for the collection from her trips to Japan in the past year #wwdfashion
@lhd, founder and CEO of @thewebster, has teamed up with @lebonmarcherivegauche for the European launch of her ready-to-wear line, LHD. The launch will come with an exclusive pop-up opening today that’s set to run through May 20. Located on the second floor, it carries her debut Miami-themed resort collection, launched in November as see-now-buy-now. #wwdfashion
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“Whenever I’m in that place of sound and music, I don’t have fear or nervousness…This album has a lot of themes of courage and boldness and I want to be the soundtrack for people’s lives. I’ll be so happy if [my songs] evoke strength in people, which I know music has done for me,” says @kimbramusic of her newest album “Primal Heart.” The New Zealand-born singer sat down with WWD to talk about her music, newest tour and connecting with hear fans — read more on WWD.com #wwdeye (📷: @jilliansollazzo)
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With her costume pearl necklace and what-you-see-is-what-you-get style, Barbara Bush, who died Tuesday at age 92, was a straight-shooter from start to finish.
Born Barbara Pierce in New York City, Bush served as the 37th first lady, as well as the country’s second lady from 1981 to 1989. In addition to being part of the longest presidential marriage — 73 years — Bush also had the unlikely distinction of having one son, George W., become the 43rd president and another son, Jeb, run unsuccessfully in 2016. Having served as second lady during the Reagan administration’s two terms and lived all over the world during her own husband’s ascending political career, Barbara Bush made it clear that literacy — not fashion — was her priority. Read more from Rosemary Feitelberg’s obituary on the late First Lady in WWD.com, link in bio. #barbarabush #wwdnews
Western and ’90s trends have influenced denim for fall 2018. Think raw, dark and coated jeans mixed with bold prints and tough leather. #trendtuesdays #wwdfashion (Styled by @thealexbadia;📷: @ryanplett)