We've all heard of no-name fashion, but this is taking it a bit far. After selling its once-dominant namesake clothing label Liz Claiborne, the company (which also owns Lucky, Juicy Couture and Kate Spade), is on the hunt for a new name--and it could take up to 12 months to find it, reports the New York Post. In the meantime, the clothing company will presumably remain nameless.
After four years with zero profit, Liz Claiborne has sold its eponymous label for $267.5 million to JCPenney. That might sound like a big chunk of change to the average citizen, but when put in comparison to the company's '90s valuation at near $2 billion, it's a pretty paltry sum. What's worse, The Post speculates that while this influx of cash will help to slash Claiborne's debt, the company will likely continue to falter under the reigns of CEO Bill McComb who the paper calls (LOL) "Edward Scissorhands."
While we're less concerned with what happens to Liz Claiborne, the clothing label--which will still be sold by that name, only exclusively at JC Penney--the liquidation of such a huge asset doesn't necessarily bode well for Juicy Couture or Kate Spade, brands we actually like.
At least this gives us some time to come up with a fun new name for the company. What do you hope it will be called?