LOS ANGELES — Coming soon to a department store near you: American Rag CIE clothing.

That’s the premise behind Tarrant Apparel Group’s agreement with the retailer announced Tuesday. Private label casualwear producer Tarrant is the new co-owner of American Rag CIE II, which owns the rights to the company trademark and the retail operations. Tarrant will retain 50 percent of the firm’s voting rights and slightly less of its equity. Financial terms weren’t disclosed.

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