Liz Claiborne Inc. to become Fifth & Pacific Companies

Liz Clairborne Inc., the holding company to fashion and lifestyle brands Juicy Couture, Kate Spade and Lucky Brand, has announced that it is changing its name to Fifth & Pacific Companies. The name change is to reflect the sale of the Liz Claiborne

namesake brand to JC Penney, among other recent transactions, and also to 'better communicate its strategic focus' on the remaining brands.

The change is expected to be effective on or about May 15, when it will begin trading as Fifth & Pacific Companies, under the NYSE stock symbol of FNP.

"While it's difficult to replace an iconic name like Liz Claiborne, we believe that Fifth & Pacific Companies telegraphs who we are today - taking inspiration from New York and California, while describing our reach and our potential. From New York to Los Angeles to Shanghai and beyond, our intrinsically American brands have global appeal, serving customers worldwide with high quality and imaginative product," said Liz Claiborne Inc. Chief Executive Officer William L. McComb.

McComb added: "With the steps we've taken, the new Fifth & Pacific Companies is financially stronger, with a healthy balance sheet and significantly reduced operating risk and complexity. Moreover, we are anchored by three, high-growth retail-based brands with significant expansion potential in global markets, spanning multiple product categories.  In short, ours is a momentum portfolio, poised
for growth and global expansion."