Women's apparel maker Liz Claiborne Inc has agreed to purchase streetwear label ENYCE Holdings for $114 million including the retirement of debt.

Liz Claiborne, which designs and markets clothes under its namesake label as well as those of Mexx, Ellen Tracy and Lucky Brand, said the purchase of ENYCE would diversify its product line to reach more young male consumers.

It said the acquisition would add about 5 cents a share to fiscal 2004 earnings, with ENYCE expected to generate net sales of about $95m in fiscal 2003.

Based in New York City, ENYCE is a designer, marketer and wholesaler of men's and women's streetwear through its ENYCE and Lady ENYCE brands.