Clothing giant Liz Claiborne Inc made an initial cash payment of $39 million, including assumption of debt, for its acquisition of Travis Jeans Inc which operates as Juicy Couture, it was revealed on Wednesday. According to a filing with the Securities and Exchange Commission, the New York-based firm said the purchase price for Travis will also require a contingent payment equal to 30 per ent of the equity value of Juicy Couture to be determined as a multiple of Juicy Couture's earnings for 2005, 2006 or 2007.