Published:
Liz Claiborne Inc. Completes the Sale of Ellen Tracy
NEW YORK, April 10 /PRNewswire-FirstCall/ -- Liz Claiborne Inc.
(NYSE: LIZ) has completed the previously announced sale of substantially all
of the assets and liabilities of the Ellen Tracy brand to a group of investors
led by Windsong Brands and Hilco Consumer Capital, along with Radius Partners
and the private investment office of Barry Sternlicht. To ensure a smooth and
orderly transition for retail partners, vendors and employees, Liz Claiborne
Inc. has agreed to provide certain transition services to the new company
Ellen Tracy LLC a wholly owned subsidiary of Fashionology Group LLC.
About Liz Claiborne Inc.
Liz Claiborne Inc. designs and markets a global portfolio of retail-based
premium brands including Kate Spade, Juicy Couture, Lucky Brand and Mexx. The
Company also has a refined group of department store-based brands with strong
consumer franchises including the Liz Claiborne and Monet families of brands,
Enyce, Narciso Rodriguez and the licensed DKNY Jeans Group. The Company also
offers cosmetics & fragrances. For more information visit
www.lizclaiborneinc.com .
About Fashionology Group LLC
Fashionology Group LLC produces branded consumer apparel for men, women,
and children. Fashionology provides best in class solutions for its retail
partners. The company holds exclusive licenses for the Ellen Tracy, Caribbean
Joe Island Supply Company, CJ, CJ Apparel, Havana Jack Cafe, Jamaica Bay, and
Periscope Brands. Fashionology Group's partners and customers are found in
every major channel of distribution including specialty stores, department
stores, and resorts.
About Hilco Consumer Capital L.P.
Hilco Consumer Capital ("HCC") (www.hilcocc.com) is a private equity firm
that makes strategic investments in consumer lifestyle brands through
acquisitions of North American manufacturers, wholesalers, intellectual
property and retailers. HCC investments range from $25 million to $250
million. Current portfolio brands and companies include Caribbean Joe(R),
Ellen Tracy, Halston(R), Tommy Armour Golf(R), RAM Golf(R), and Bombay Brands,
LLC. HCC is a unit of The Hilco Organization, aChicago-based, international
provider of diversified financial and operational services, including business
asset valuations, asset acquisition and disposition services, M&A services and
retail consulting.
About Windsong Brands LLC
Windsong Brands, LLC (www.windsongbrands.com) is a private equity firm
that focuses on investments in leading middle market consumer companies that
own strong recognizable brands. The team has a diverse background of consumer
expertise that assists and guides company management to unlock the true
potential of their brand. Windsong Brands makes majority and minority
investments in both public and private companies. Investments and portfolio
brand companies include Ellen Tracy, Caribbean Joe, Joe's Jeans, Field &
Stream, Como Sport, and Alerion Aviation.
About Radius Partners LLC
Radius Partners LLC (www.radiuspartnersllc.com) provides special
situation/unique investment opportunities in both growth and distressed mid-
market companies, with a primary focus in the industrial manufacturing,
distribution, consumer, and entertainment sectors. Radius has operational and
financial expertise specifically designed to assist and enhance portfolio
company operations and profitability. Radius maintains funding relationships
with several large private equity funds, hedge funds and alternative asset
managers.
SOURCE Liz Claiborne Inc.
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