NEW YORK — Cynthia Steffe and Bernard Chaus Inc. are parting ways.

Three years after the firm bought the Cynthia Steffe name from LF Brands, the sportswear firm announced it will not renew the contracts for designer Cythina Steffe and her husband, brand president Richard Roberts, when the agreements expire Dec. 31.

Chaus will keep the Cynthia Steffe and Cynthia Cynthia Steffe trademarks, which it plans to grow from what industry sources estimate as a $24 million wholesale business.

The company said it expects to announce both a new design director and president shortly.

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