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Juicy Couture Insists It Isn't Dead Yet

Yes, stores are closing, but it's not what you think.

Some *ahem* juicy rumors started swirling last week that Juicy Couture would be shuttering all of its U.S. doors by the end of June.

According to parent company Authentic Brands Groups, the rumors are true -- sort of. ABG, which purchased the ailing Juicy Couture at the end of 2013, will be closing down many doors and replacing them with new stores; ABG announced plans for concept shops, like loungewear and kids' wear, in April. 

"The new locations will replace existing Juicy Couture stores in the U.S., which are being phased out as they were opened by a previous owner of the brand and were no longer representative of the Juicy Couture brand today and ABG’s vision for the brand’s future," the statement reads; doors will begin to reopen starting in 2015.

Still, the brand has plans for expansion, mainly on the global market, as was previously rumored. Another 127 doors are expected to open in key regions, like Asia, Europe and the Middle East, over the next five years. The company also plans to further the Juicy Couture Black Label Collection -- a premium concept for the brand -- through partnerships with Elizabeth Arden (fragrance), Steve Madden (footwear), Movado (watches), Safilo(eyewear), Contour (tech accessories) and Swimwear Anywhere (swimwear).

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AGB will also be relaunching the Juicy Couture website.