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Leonard Green & Partners unit to buy Juicy Couture for $195 million
New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, agreed to sell its Juicy Couture brand to Authentic Brands Group for $195 million, according to various reports.
"This decision is the result of a process we began last year—studying our resource allocation needs, our capital structure, and the operating risks and opportunities associated with a three-brand portfolio while still maximizing shareholder value," said William McComb, CEO of Fifth & Pacific, in a statement.
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Accenture: holiday spending to increase 11%
Shoppers in the United States plan on spending an average of $646 on gifts this holiday season, representing an 11% increase over the $582 they planned to spend, on average, in 2012, according to Accenture’s annual holiday shopping survey. The forecast uptick is more optimistic than other holiday surveys released to date.