The new name signals a new era for the longstanding fashion house, which promises to focus on its remaining upscale labels. Many of the company’s lines were sold off over the last year but modern brands like Juicy Couture, Kate Spade, and Lucky Brand remain.
Company chief executive officer William McComb conceded that “it’s difficult to replace an iconic name like Liz Claiborne,” but said he felt Fifth & Pacific was a good fit the company going forward. He explained the name was inspired by America’s most fashionable states New York and California, a fitting tribute to the roots of its existing lines.
It’s disappointing to see so many brands, including Dana Buchman, Kensie, and Mexx, shed from the Fifth & Pacific roster. However those sell-offs have raised vital capital for turning the cash-strapped company around. The business’ streamlined approach should help it capture consumers with cash to spare, so it’s a vital strategy for reversing its fortune.
There’ll be a transition period, but the new Fifth and Pacific name is expected to become effective from May 15. The company will also rename its New York Stock Exchange ticker symbol to FNP and launch a new corporate website at www.fifthandpacific.com.
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