Wednesday, January 4, 2012
After 36 years in the business LIZ CLAIRBORNE is getting a new name. The brand will now be called "FIFTH & PACIFIC COS. INC" starting May 2012. The name is to reflect the company's relationship between New York and LA and to sharpen it's image. The decision came after the company recently sold it's namesake label to JC PENNY. They wanted to separate the two. The company will put it's focus on it's major lines which includes KATE SPADE, JUICY COUTURE and LUCKY BRAND. In a statement that the CEO William McComb released, he said "While it's difficult to replace an iconic name like Liz Claiborne, we believe that Fifth & Pacific Companies telegraphs who we are today. He also said that Fifth & Pacific is financially stronger. Liz Clairborne has had financial trouble for years even with the revamping the brand. I think this was a good move because it is like the re-birth of the company in a new direction. What do you think about the name change?