SOLD: Juicy Couture Goes for $195 Million
Posted Tuesday October 8, 2013 10:10 AM GMT
Kate Spade must be feeling pretty important right now.
The brand’s parent company, Fifth & Pacific, sold Juicy Couture for $195 million so that it could focus its efforts solely on Kate Spade. Fifth & Pacific also owns Lucky Brand, but probably not for long considering they’re shopping around for a buyer there, as well. (Any takers?)
In case you were worried, velvet sweatsuits won’t be gone for good — the label is now in the hands of Authenic Brands, a company that also owns Hickery Freeman and Judith Leiber. Whether or not the new Juicy will see the success its founders Pamela Skaist-Levy and Gela Nash-Taylor met will remain a mystery — but seeing as the two showed interest in buying the brand back in July, we can be hopeful Authenic Brands will at least give them a seat at the table.