Authentic Brands Group Buys Juicy Couture
Posted on October 11, 2013Authentic Brands Group has purchased the Juicy Couture brand from Fifth & Pacific in a deal worth $195 million. Reuters reports that Fifth & Pacific wants to focus on growing its Kate Spade brand. Reuters says revenues for Juicy Couture have been falling. Juicy Couture revenues fell over 6% last year and are down over 10% in the first half of 2013.
Marketwatch reports that Fifth & Pacific has also been looking to sell Lucky Brand jeans, but has no news to share on a possible sale at this time.
Authentic Brands Group just announced the acquisition of Spyder in August. The company says it will provide more information about its Juicy Couture acquisition at a future date. Some of its other brands include Judith Leiber, Hick Freeman, Taryn Rose, Bobby Jones and Misook.