Liz Claiborne's brands sale completed

Liz Claiborne, Inc. today announced that it has completed the transaction to sell trademark rights and certain other assets of its Kensie, Kensiegirl and Mac & Jac brands to affiliates of Bluestar Alliance, LLC. The American group has gone

through financial struggles lately, as has not made a profit since 2006 as reports Money Watch. Liz Claiborne announced earlier this month that it would sell off a number of its brands to focus on its higher-end Juicy Couture, Lucky Brand and Kate Spade brands. Therefore, Liz Claiborne Inc. moved forward in its own makeover Monday as it completed the sale of its Kensie, Kensiegirl and Mac & Jac brands to BlueStar Alliance LLC.

Bluestar Alliance, LLC owns, manages and markets a growing portfolio of consumer brands including The Sharper Image®, Liz Lange Maternity® English Laundry®, Hot Kiss®, First Kiss®, Harve Benard® & Completely Me®, Bluestar licenses its brands to a network of best in class manufacturers and retailers both in the U.S. and internationally.

As explained in an official note, Liz Claiborne agreed to sell its namesake brand and Monet jewelry brand to department store operator J.C. Penney Co. It also agreed to sell the Kensie, Kensiegirl and Mac & Jac brands to Bluestar, which owns and licenses a number of retail brands including Liz Lange Maternity and English Laundry. It also completed its sale of the Dana Buchman brand at the time.

According to the company, these movements would generate about $328 millionwhich it plans to use to lower its debt. In the same vein, in August the company announced that it sold trademarks for the Curve fragrance and some smaller brands to Elizabeth Arden for $58.4 million in cash. Also, last month Liz Claiborne said it was selling its Mexx business to a joint venture led by the private equity firm The Gores Group.

Analysts point out that with this line of action, Liz Claiborne seems to hope that a more high-end focus will help it turn around its business, where annual revenue has been cut in half from 2006 through last year. Shares of the company, based in New York, rose 9 cents to close at $8 on Monday.