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Liz Claiborne Selling Ellen Tracy To Investors

Women’s Wear Daily, Thursday, February 14, 2008 1 PM

Liz Claiborne's impending sale of Ellen Tracy to a consortium of buyers led by Windsong Brands and Radius Group leaves only two brands--Mac & Jac and Kensie--of the 16 that Claiborne placed on strategic review in July with for-sale signs. Eight of the 16 brands have been sold, one is being kept, one is being licensed, two were folded into other brands, and two were closed.

The new owners of Ellen Tracy plan to maintain the label as a bridge brand and license it out, according to sources. The first task will be to find a designer. George Sharp resigned as vp of design last month to join St. John. The next step will be a battle to reclaim the volume that the brand has lost. The slide has been propelled by changes in the bridge market, product issues and recent economic woes.

The deal reportedly is being done for $50 million in cash and a contingent payment.

Read the whole story at Women’s Wear Daily »

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