Arden acquire Claiborne portfolio

by Grant Osborne, 29 May 2008

Elizabeth Arden and Liz Claiborne announced yesterday that they have entered into an exclusive long-term global licensing agreement for the manufacture, distribution and marketing of the Liz Claiborne fragrance brands including Lucky Brand, Usher, Curve and Juicy Couture.

"This is a very strategic transaction for both companies," said E. Scott Beattie, Chairman, President and Chief Executive Officer of Elizabeth Arden, Inc. "We have worked closely together through our existing distribution relationship and are very familiar with the Liz Claiborne fragrance portfolio."

William L. McComb, Chief Executive Officer of Liz Claiborne Inc., said, "Fragrance is an important equity enhancing category for our brands. For us to maximize profitability in this business going forward, however, we would have to make significant changes to how it is operated. Doing that right now would distract us from other initiatives currently underway that are core to our strategy. Through this partnership with Elizabeth Arden, we can continue to successfully develop and market brand enhancing fragrances in a more capital efficient manner, leveraging our strength in brand building with Arden's expertise in developing and growing fragrance businesses."

Categories: Licensing, Acquisitions, Business and Finance, Claiborne Cosmetics, Elizabeth Arden Inc, Juicy Couture, Liz Claiborne, Lucky Brand, Usher

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Arden acquire Claiborne portfolio

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