Juicy Couture, a San Fernando Valley apparel brand that once had a loyal following of celebrities and shoppers clamoring for its upscale velour track suits, may be up for sale by its corporate parent.
Fifth & Pacific Cos., a New York company that owns several apparel brands including Juicy Couture, Lucky Brand and Kate Spade, has been in talks to sell both Lucky and Juicy Couture, according to a report in Thursday’s Wall Street Journal.
The parent company was once the owner of the Liz Claiborne brand, but changed its name in 2011 after selling the rights to the brand to J.C. Penney Company Inc. It has shed several other retail brands in recent years as it focused on more contemporary brands.
Juicy was founded in 1995 by two Pacoima residents, Gela Nash and Pamela Skaist-Levy, and the company’s prominence rose as celebrities such as Jennifer Lopez and Madonna were seen wearing the clothing. In 2003, the founders sold the company to Liz Claiborne for $50 million but maintained its Arleta headquarters.
Liz Claiborne extended the reach of Juicy Couture, getting it onto the racks at Bloomingdale’s, Saks Fifth Avenue, Bergdorf Goodman and other upscale retailers. But by last year, the brand had faded and Juicy reported a 62 percent drop in profit to $24.6 million on sales of $499 million.
Bankers involved in the deal are in talks with several potential buyers, according to the Journal. The company declined to comment.