Liz Claiborne Sells Eponymous Brand to JCPenney, Now Has To Come Up With a New Name for the Company
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.”
