Fifth & Pacific is selling Lucky Brand Jeans for $225 million so that it can better focus on its Kate Spade brand. The New York company, formerly known as Liz Claiborne, has been selling off parts of its business over the past few years. Before announcing the sale Tuesday to an affiliate of private equity firm Leonard Green & Partners LP, it sold its Juicy Couture brand in October to Authentic Brands Group for $195 million. The Lucky deal includes $140 million in cash and $85 million as a three-year seller note.
Toys"R"Us and Li & Fung Retailing have established a joint venture for the Toys"R"Us business in Southeast Asia and greater China. Existing Toys"R"Us licensed operations throughout Asia, which includes more than 100 stores and offices across nine markets, will become 70 percent owned by Toys"R"Us and 30 percent owned by Li & Fung Retailing.
First came shoes. Now Skechers is looking to beef up its profile by expanding to apparel. The brand has inked a multiyear licensing agreement with Li & Fung that will result in the launch of Skechers fitness activewear, outerwear, and accessory lines for women and men.