All-American brand Juicy Couture, best known for its matching velour tracksuits and the occasional casual girly dress, has recently announced that they will be closing all stores in the U.S. The struggling parent company, Fifth and Pacific Companies sold the label for $195 million to Authentic Brands Group last fall, a licensing company that owns the rights to brands of icons Elvis Presley and Marilyn Monroe. Yet, despite the transfer, the brand’s business saw no improvements.
While the rhinestone tracksuits held their reign for some time, the brand just never expanded. The labels co-founders Pamela Skaist-Levy and Gela Nash-Taylor, who sold their company to Fifth and Pacific in 2003 for $53.1 million, told the Huffington Post how difficult it was to see their label plummet. The founders commented: “It’s been painful to watch the brand fall down after we left. We wanted Juicy to be the great American girly brand. It was our legacy.”
Yet while its American locations are closing, its 60 overseas stores will remain open and the brand will even open up at two new locations in the Middle East – one in Abu Dhabi and one in Doha.
Jamie Salter, chairman and chief executive of ABG said in a statement to Zawya that this is not the end of the brand: “The Juicy Couture brand is strong and thriving globally, and Authentic Brands Group is committed to driving a comprehensive, multidimensional strategy to expand Juicy Couture across our international markets.”
Additionally, the brand has plans to open new boutiques in NYC next year named World of Juicy. The new line will be sold at a more affordable price point at Kohl’s and a more premium “black label” line will be available at new locations and online. So while Juicy Couture itself is drying up in the US, the label won’t be disappearing forever.
via sparksonline.com
Photo: via sparksonline.com
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