Liz Claiborn Sells Off Its Namesake Brands-Going High-End

Do you own any Liz Claiborn clothing? For almost two decades, it was a premier fashion brand [How big was it? At its peak in the 1990's, it made almost $2 billion dollars a year]. But it hasn't made a profit in five years, so the company chose an unusual way to get fiscally fit.

J.C. Penney stores, which have sold the various Liz Claiborn brands since last August, bought most of the Claiborn brands [including, but not limited to: Liz Claiborn, Liz, Elizabeth, Liz & Company, and LC], as well as the Monet line of fashion jewelry yesterday for $267.5 million. The Company Formerly Known As Liz Claiborn held on to the high-end brands Lucky Brand Jeans, Kate Spade, and Juicy Couture, and plans to use the money to pay down debt.

(Emphasising either high- or low-end products is becoming a common strategy in marketing. As the middle class consumer disappears, companies are picking who they want to sell to, and selling their products accordingly)

Reportedly, both new companies will pick new names, although no major changes in design teams are expected.

Do you have Liz in your closet? Or had that fashion train pulled out a long time ago for you? Were you wearing lots of LC back in the day? Did you notice a drop-off in quality or fashion sense after Liz Claiborn died in 2007? Fashionistas, take a stand, here or on our Facebook page...