JCPenney Acquires Liz Claiborne Brands
November 25, 2011,
Former Apple retail store chief Ron Johnson, who officially becomes JCP's ceo on Nov. 1, described Claiborne and Monet as "classic brands that resonate deeply with consumers."
JCP will acquire the worldwide rights and intellectual property for Liz Claiborne, Claiborne, Liz, Liz & Co., Concepts by Claiborne, LC, Elizabeth, LizGolf, LizSport, Liz Claiborne New York (LCNY) and Lizwear along with Monet. The Liz Claiborne design team will join JCP under the agreement.
The transaction is expected to close within 30 days.
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