If you're in need of some Juicy gossip--look no further. Juicy Couture's parent company Fifth & Pacific has just sold the label for $195 million to Authentic Brands Group, according to WWD. The acquisition was months in the making, with other top bidder IDG dropping out of the race as recently as August.
Fifth & Pacific sold the brand in an effort to focus its energy on its current cash cow, Kate Spade. The company is said to be searching for a buyer for Lucky Brand as well. Juicy now belongs to an extensive roster at Authentic Brands that also includes Hickey Freeman and Judith Leiber.
Most interesting of all, though, is Juicy Couture's buyer--or, more specifically, who isn't buying. Just this July, it was reported that Juicy's founders, Pamela Skaist-Levy and Gela Nash-Taylor (who now run Pam & Gela, formerly Skaist-Taylor), were keen on regaining control of the brand they sold to Fifth & Pacific (then Liz Claiborne) a decade ago. Juicy's buzz-factor has been on the wane since velour sweatsuits fell out of fashion, and the rumors of the founding ladies' potential return had us wondering if they were the answer to reigniting the store's success. Whether Authentic Brands can do the job--and if Skaist-Levy and Nash-Taylor will somehow be involved--remains to be seen.