US: Fifth & Pacific coy on Juicy Couture sale
Apparel firm Fifth & Pacific has remained coy on speculation it is looking to sell its struggling Juicy Couture brand.
The company is in the early stages of exploring alternatives for the Juicy brand, including a potential sale, according to a Reuters report. Fifth & Pacific has contacted potential buyers, it said, including some in Asia.
However, the discussions were preliminary and the group has not decided whether it will sell the brand, the report added.
Meanwhile, a spokesperson for Fifth & Pacific told just-style: "We do not comment on market speculation or rumours."
Last month, the company was forced to admit that disappointing Juicy Couture sales and Superstorm Sandy hit its fourth-quarter performance. Over the quarter, Kate Spade and Lucky Brand saw sales increase 27% and 3% respectively, while Juicy posted a 2% decline.
Despite the fall in sales, Fifth & Pacific reiterated its commitment to the Juicy brand last month, as it outlined its goals and priorities for 2013 at the ICR XChange conference in Miami.
"This has to be the year where Juicy finds stabilisation," chief executive officer Bill McComb said.
"Juicy is in full turnaround mode. The brand identity is actually as strong as Kate Spade's - even stronger overseas and the shifts in positioning merchandising that did not deliver are being addressed now," McComb added.
Fifth & Pacific Companies is reportedly in late-stage talks to sell its Lucky brand to private equity firm Advent International for an undisclosed sum....
Children's apparel retailer The Gymboree Corporation has appointed Levi Strauss & Co executive Joelle Maher as the company's new chief operating officer....
Fifth & Pacific subsidiary Kate Spade has won a trademark dispute related to the name and logo of its newest clothing brand, Kate Spade Saturday....
- Improved supplier capabilities benefit Next
- India's labour law reforms edge a step closer
- THE FLANARANT: Understand win-win or lose out
- China and Vietnam lead US apparel imports in July
- Retailers voice concerns on Scottish independence
- H&M goes green with Conscious Denim
- Under Armour "resonating strongly" with consumers
- TPP talks "make progress" but issues remain
- Adidas defends position despite investor unrest
- Ultrasonic execs disappear along with company cash
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details