Fifth & Pacific Cos. (FNP) have recently revealed that they are changing their name again to Kate Spade & Co., to return to its roots as a ‘mono brand’ company. The company which was formerly known as Liz Claiborne till 2012 designs and markets a wide range of women’s and men’s apparel, accessories and fragrance products.
Liz Claiborne name had changed to Fifth & Pacific to relate to their fashion consumers as the company had sold from an empire of some 40 brands and kept just three of them – Juicy Couture, Luck Brand and Kate Spade. For the first nine months of the fiscal year ended Sept. 28, Kate Spade’s sales soared 69% to US $ 487.5 million. Juicy Couture’s sales fell, while Lucky Brand posted 6.8% sales jump. Juicy Couture was sold in October to Authentic Brands Group, a unit of Leonard Green, a private equity firm that also bought Lucky Brand in December in a US $ 225 million deal. The brand will now focus only on Kate Spade which is expected to report 10% to 13% same-store sales growth for fiscal 2014.
