Last Wednesday, Liz Claiborne (LIZ) announced numerous transactions that not only generated $328M in cash to drastically reduce debt, but most importantly, greatly reduced the complexity of the brand focus ending years of transforming the company.
The press release highlights just how complex the structure remained even after years of selling off brands. LIZ sold the namesake brand Liz Claiborne and Monet to JCPenny (JCP), Dana Buchman to Kohl's (KSS), terminated a license for DKNY, and sold three more minor brands to Bluestar Alliance. This was on top of the joint venture for MEXX and the Elizabeth Arden transaction recently announced . It also doesn't include numerous other brands sold off over the last 3-4 years of streamlining the focus of the company.
Read the full article at Seeking Alpha.
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