Fifth & Pacific to Sell Juicy Couture
October 08, 2013
New York-based Fifth & Pacific Companies Inc. has entered into a definitive agreement to sell the intellectual property of the Juicy Couture brand. Consummation of this transaction is subject to customary closing conditions and is expected to occur in November. The company, which also markets global lifestyle brands Kate Spade and Lucky Brand, is selling the intellectual property of the brand to Authentic Brands Group (ABG) for $195 million. “We are honored and excited to build upon Juicy Couture's unique heritage and to realize the brand's significant global potential,” said Jamie Salter, chairman and CEO of ABG.