Liz Claiborne Inc yesterday (10 April) confirmed it has completed the sale of the Ellen Tracy brand.

The brand has been sold to a group of investors led by Windsong Brands and Hilco Consumer Capital, along with Radius Partners and the private investment office of Barry Sternlicht.

The consortium is paying up to $42.3m, depending on the label's future performance.

As reported on just-style yesterday, the new company Ellen Tracy LLC will operate as a wholly owned subsidiary of Fashionology Group LLC, a new company set up to manage the brand.

Liz Claiborne says it will provide transition services to the new company to ensure a smooth and orderly transition for retail partners, vendors and employees.

The sale follows a strategic review of 16 of Liz Claiborne's apparel brands which began last summer.

The company is now focusing on smaller, more powerful labels and will develop its own retail businesses.