Fifth & Pacific Sells Juicy Couture to Authentic Brands Group
Authentic Brands Group has acquired the Juicy Couture brand from Fifth & Pacific for $195 million reports WWD.
The transaction, which took several months of negotiations, includes a short term licensing agreement between the two parties to transition the Juicy operations. There had been a bidding war with IDG Capital, but last month they dropped out.
Authentic Brands is a brand management firm that acquires the intellectual property assets of brands. Juicy is now part of a portfolio that includes Hart Schaffner Marx, Hickey Freeman, Judith Leiber, Prince Sport, Tapout and Marilyn Monroe.
Fifth & Pacific still has to look at its options for Lucky Brand. They have been looking for buyers for both Lucky and Juicy because they plan to focus solely on their Kate Spade brand. The negotiations with Advent International fell apart last month, but they said to they have interest from other potential buyers.