Liz Claiborne Inc. was founded in 1976 byÂ Liz Claiborne, Art Ortenberg, Leonard Boxer, and Jerome Chazen. It was an immediate success with sales of $2 million in 1976 and $23 million in 1978. In 1980, Nina McLemore founded Liz Claiborne Accessories. Liz Claiborne Inc. went public in 1981 and had made theÂ Fortune 500Â in 1986, ten years after it was founded, with retail sales of $1.2 billion. It was the first company founded by a woman to be listed in the Fortune 500.
Liz Claiborne was also the first designer to insist that her collection be placed together on the department store floor, instead of in separate clothing categories, which changed the way we shop. Shoppers no longer went ...view middle of the document...
E.O. and held that position until 2006. During Charron's tenure Liz Claiborne, Inc. acquired 85% of Lucky Brand Jeans in 1999. In 2001, they acquiredÂ MexxÂ and in 2003 they bought another small fashion company, Juicy Couture. The company acquired kate spade in 2006. On October 16, 2006, Liz Claiborne Inc. named William McComb Chief Executive Officer.
On October 8, 2009,Â JC Penney Co.Â (based out of Plano, TX), announced that it would become the exclusive retailer for the Liz Claiborne brand. All Liz Claiborne merchandise would exit any additional department-store retailer, and the Liz Claiborne New York designed by Isaac Mizrahi would move from department stores to QVC. The Liz&Co. and Concepts by Claiborne brands originally exclusively sold at JC Penney would be phased out, and the Liz Claiborne merchandise would begin appearing in JC Penney stores in August 2010. In October 2011, the company completed the sale of its Dana Buchman brand to Kohl's. In November 2011, the Company announced that it has completed the transaction to sell domestic and international trademark rights of its Liz Claiborne family of brands and domestic trademark rights of its Monet brand to JC Penney.
On August 2013, Fifth & Pacific "missed Wall Street's estimates for both the loss per share and sales" for the 2013 second quarter.In January 2014, Craig Leavitt will succed, as CEO, William L. McComb,who was CEO for seven years.
The Fifth & Pacific Companies, Inc. portfolio of brands today includes Kate Spade,Â Jack Spade, Lucky Brand Jeans, and an 18.75% stake in Mexx, a European and Canadian apparel and accessories retail-based brand.Â The Adelington Design Group, a private-label jewelry design and development group, also remains. It markets brands through department stores, and serves J. C. Penney, via an exclusive license for Liz Claiborne and Monet jewelry lines, and Kohl's with a license forÂ Dana Buchman jewelry.
Liz Claiborne was once the largest women's brand on the market. The woman herself was not only a fashion pioneer, but a pioneering business executive.
It took theÂ eponymous brand less than 10 years to make it into the Fortune 500, where it continued to set all kinds of firsts.Â
During the 1970s, 1980s, and 1990s the brand enjoyed immense success. There were rough times, but it always found a way to reinvent itself.
In October of 2006, it made one really poor decision, and since then the company has not turned a profit. Less than two weeks before appointing the 43 year-old William L. McComb as CEO, the brand decided to make clothes forÂ J.C. Penney. Since then, McComb's five-year-plus tenure has seen the stock collapse, and five consecutive years...