Liz Claiborne Inc., which has been cutting deals to pay down debt and focus on Kate Spade, Juicy Couture and Lucky Brand, has finally solved its Mexx problem.
The company inked a deal to sell a majority of the loss-leading division to The Gores Group for about $85 million. The move comes on the heels of another agreement last month that raised $58.4 million from Elizabeth Arden Inc., which will make lower royalty payments on fragrance businesses tied to Claiborne’s brands. And in 2009, the company licensed its mature Liz Claiborne brand to J.C. Penney Co. Inc., giving the retailer an option to buy the name.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)