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Fifth & Pacific Cos. Inc. (the firm formally known as Liz Claiborne Inc.) has made moves to sell off its brands Juicy Couture and Lucky, leaving the company solely with Kate Spade and a small jewelry business.
These sales would mark the final ones in a longterm strategy of jettisoning lackluster brands to focus on its one shining star. But putting all the eggs in one basket is apparently advantageous when said eggs are branded with Kate Spade: The company CEO Craig Leavitt mentioned to analysts earlier this month that he expects total sales to rise to about $2 billion by 2016 and eventually hit $6 billion, according to WWD. The money from the Lucky and Juicy sale is intended to help fund Kate Spade store openings and the development of the Kate Spade Saturday business. So expect to see more Spade everywhere in the next few years. Heck, it could even be bigger than J.Crew.
· Fifth & Pacific Hires Bankers for Lucky, Juicy [WWD]
· Kate Spade Projected To Be Bigger Than J.Crew [Racked]
· Your Guide to Shopping Kate Spade Saturday's New Site [Racked]