Liz Claiborne dies at 78

Liz Claiborne, the American pioneer of casual daywear, died Tuesday in New York at the age of 78. Claiborne, who is credited as dressing a generation of working women in the seventies and eighties by offering affordable and quality leisurewear, had been battling cancer for 10 years.

Claiborne was one of the co-founders in 1976 of Liz Claiborne Inc., which became one of the most successful apparel companies in the world. When she retired in 1989, the publicly traded company had grown into a $1.2 billion powerhouse, generating $110.3 million in net profits.

From the get-go, Claiborne had a clear idea of the clothing she wanted to design, and her groundbreaking concepts became the backbone of the better-price sportswear area of department stores. In an interview with WWD last year, Claiborne said, "The concept was to dress the American working woman because I, as a working woman with a child, didn't want to spend hours shopping. Things should be easy. You don't have to dress in that little navy blue suit with a tie. I wanted to dress her in sportier clothes and colours."

www.lizclaiborne.com
28 June 2007

Claiborne takes stake in Narciso Rodriguez

Liz Claiborne is taking a fifty percent stake in design house Narciso Rodriguez. The deal will be announced on Monday. Together, Claiborne and Rodriguez will create a new company with which they will build a global brand. Rodriguez will be creative director of the new entity.

“Narciso's strong following and high recognition level position his business well for considerable organic growth,” William L. McComb, Claiborne's chief executive, said in a statement. “In addition to the expansion of the existing collection business, we feel there are abundant brand extension opportunities in non-apparel and licensing categories, as well as increased international distribution. Further, we see potential in the direct-to-consumer channel on a worldwide basis.”

Rodriguez, who was thought to have been looking for an investor for his business, said: “ Col laborating with Liz Claiborne will enable me to focus on my work and all its possibilities. Bill McComb and his team have a clear understanding of my vision and are committed to help me realize my dream.”

Rodriguez first shot to fame when he designed the wedding dress for Carolyn Bessette Kennedy. The Parsons alumnus had worked for Anne Klein, Calvin Klein, Cerruti and Loewe. In 1997, he founded his own signature label and gained a celebrity following with his clean, linear designs. He won the CFDA Womenswear Designer of the Year award for two consecutive years, in 2002 and 2003. In 2005, Rodriguez started a men's line. His collections are sold at high-end stores such as Barneys New York, Bergorf Goodman and Harvey Nichols. Despite his successes in the US , however, the designer never managed the same abroad. His president and chief executive, former Giorgio Armani executive Roberto Pesaro, left the firm after only 10 months and he was forced to close down his flagship store in Milan in February.

The addition of Rodriguez to the stable of Liz Claiborne brands signifies a departure from its usual mid-priced brands, such as Juicy Couture, Ellen Tracy and Kate Spade.

www.lizclaiborne.com
7 May 2007

Liz Claiborne reports profit falls

Liz Claiborne, the American apparel owner of brands Juicy Couture, Lucky Brand Jeans and DKNY, announced first-quarter sales were down 65 per cent.

According to the company's statement, results are adjusted to exclude the impact of expenses resulting from the Company's previously announced plans to streamline its operations in 2007 and 2006, including the closing of underperforming and one-off domestic specialty retail concepts, and the redeployment of resources to more efficiently manage its multi-brand, multi-channel and multi-geography portfolio.

William L. McComb, Chief Executive Officer of Liz Claiborne, said: "Clearly, we wish we could have reported better first quarter earnings and provided a stronger outlook for the year. Our first quarter results reflect significant challenges in our domestic wholesale business, partially offset by improved direct to consumer performance. Results were driven by lower than anticipated domestic wholesale re-orders, higher levels of markdowns across the domestic wholesale channel and changes in the retail calendar that shifted some shipments into the second quarter.”

www.lizclaiborne.com
1 st May 2007

Liz Claiborne Reports 4th Quarter Results

Liz Claiborne Inc on Wednesday announced net sales for the fourth quarter 2006 were $1.33 billion, an increase of 10.8% from the comparable 2005 period. For the full year 2006, earnings per share were $2.46 compared to diluted earnings per share of $2.94 for the comparable 2005 period. Net sales for the full year 2006 were $4.99 billion, an increase of 3.0% from the comparable 2005 period. The Company, who's portfolio includes C&C California, Juicy Couture and DKNY, believes that the adjusted results for the quarter and full year in this release provide a more meaningful comparison of its operational and financial performance.

William L. McComb, Chief Executive Officer of Liz Claiborne, said: "Although the environment was challenging in the fourth quarter, we generated adjusted earnings per share in line with our previously announced estimates. While net sales grew at a double-digit pace, with strong increases in retail and wholesale non-apparel, operating income was impacted by our streamlining initiatives.

Sales of Lucky Brand grew 37 percent year-to-year. Sales of Juicy Couture increased 30 percent for the year, and more than doubled in the fourth quarter, compared with a year ago, primarily due to the brand's fragrance launch. Sales were further buoyed by the acquisition of Kate Spade accessories. While the company pours money into creating buzz around its power brands, which include Kate Spade and Juicy Couture, it may shed other labels. As reported, Claiborne is closing its Mexx business in the U.S., which once had 11 stores, but today is down to four.

www.lizclaiborne.com
1 March 2007

Liz Claiborne acquires Kate Spade

Having only just taken over the remaining 44 percent stake in accessories specialist Kate Spade, Neiman Marcus has sold the company to Liz Claiborne for $125 million (£65.5 million). Claiborne is expected to expand the brand's presence, like it did for Juicy Couture and Lucky Brand Jeans. Sources have said the $4.8 billion fashion giant will likely extend the product range to include jewellery and sportswear, reports WWD. Claiborne could not be reached for comment. The same sources have also indicated that the US retailer believes in the global potential of the brand, which is available at Harvey Nichols in London . The brand currently has 19 stores in the US , four outlet stores and one Jack Spade store. Claiborne is said to be planning to open up to 200 stores in the US , Canada , Europe, Asia and the Middle East .

According to WWD, Kate and Andy Spade, the husband and wife team that founded the New York-based company in 1993, have signed a service agreement with Claiborne. This means they will stay with the company until mid 2007. Claiborne is said to want Kate to stay on as the face of the brand, but it is not yet known what Andy Spade's role will be.

Kate Spade first shot to fame with her nylon handbags adorned with a minimalist black-and-white label. The brand soon evolved to include more colourful items, bags made from different materials and came to include other accessories like eyewear, footwear, home products and stationery. Later on, the company also launched Jack Spade, a men's accessories brand. Together, the two brands generated net sales of around $84 million in the year ended 30 July 2006. In recent years, the brand has been criticized for raising prices and moving away from its original handbag designs, but is now believed to be remedying that.

www.katespade.com
8 November 2006

Liz Claiborne looks at British brands for portfolio

Paul Charron, Liz Claiborne’s chief executive, is expected in London next week to develop a new strategy for the UK.
The company is looking to expand the presence of some of its 40 existing brands in the UK, as well as buying new fashion labels. The acquisitions will be in the $100 million (£54 million) to $400 million range, according to the company, and it plans several such deals over the next couple of years. Liz Claiborne, which had global sales of $4.8 billion last year, raised €350 million from a bond issue in June.
Mr Charron said: “We are looking for acquisitions in Europe, particularly in the UK. There is a number of European brands on our radar. There is some really good fashion and design talent building some interesting brands there.”
Analysts believe Liz Claiborne could buy Ted Baker, Diesel and French Connection at the top end of its budget range. Smaller brands that might attract its attention are Reiss, All Saints and Mulberry, because of their unique styles.
Liz Claiborne, which owns DKNY Jeans, C&C California and Mexx, has bought several lifestyle brands in recent years to insulate itself from price competition at the lower and mid-end of the retail market.

15 July 2006

Liz Claiborne Q1 profits drop

Fashion retail giant Liz Claiborne saw its profits for the first quarter plummet 34.3 percent on a 3.4 percent drop in sales. Chairman and chief executive Liz Claiborne Paul Charron awarded the $4.8 billion (£2.62 billion) company "a B-plus, maybe a C-plus" for its performance and said, "The shareholders expect more than we're delivering, and we expect to deliver more in the out quarters."

For the quarter ended 1 April, net income reached $46.9 million, down from $71.4 million last year. Sales dropped from $1.21 billion to $1.17 billion. Wholesale apparel sales fell 6.4 percent to $757.5 million, while non-apparel wholesale sales slipped 1.2 percent to $138.2 million. Meanwhile, retail sales rose 3.4 percent to $264.2 million, while same-store sales dipped 3.7 percent. Licensing revenues remained flat at $11 million. According to Charron, the decline was caused by consolidation in the department store division after the acquisition of Federated for $17 billion. Also to blame were the weather in February and March, a late Easter and the many layoffs at Liz Claiborne. He added that he expects the results to pick up in the second half of the year.

Charron said that the company has had to let 500 employees go as part of its strategic realignment, "with a disproportionate number of these at the director level and above". The company's president and chief merchandising officer for better and moderate department store brands, Denise Johnston, left the company last week to join Gap Inc. The group is now considering her replacement.

Furthermore, Charron said the group is concentrating more on investments that make the most out of "compelling growth opportunities" among its more than 40 brands. It is also improving its delivery of faster turns, shorter cycle times, smaller up-front buys and faster fill-ins of popular products to meet the needs of department stores. He said that retail represented 25 percent of group revenues "over the past 12 months" and said that its goal is to increase that number to around 35 to 40 percent of sales, with international sales increasing from 27 percent to 35 percent.

Charron added that the group is looking at "multiple M&A opportunities", looking for brands in a unique niche market with high quality reputations and attractive financial situations. With $477 million in cash flow from last year's operations, he said the group was in a position to take "advantage of opportunities where the strategy is compelling and the prices appropriate."

www.lizclaiborne.com
1 May 2006

Liz Claiborne closes Regent Street store

US fashion brand Liz Claiborne has closed its Regent Street store in what the company cited as "tough trading conditions." This season, the conglomerate - which also owns Juicy Couture, Lucky Jeans and C&C California - has closed more than 40 concessions. The company is to continue selling Liz Claiborne accessories in the UK.

Liz Claiborne courts Kate Spade

Clothing conglomerate Liz Claiborne has entered the fray as a potential buyer of Kate Spade. The brand is being sold by equity firms Texas Pacific Group and Warburg Pincus, who purchased Spade from the Neiman Marcus Group in May 2005 for $5.1 billion (£2.9 billion).

Industry sources have told WWD that two other companies are also interested in the brand, where husband-and-wife team Andy and Kate Spade act as chief executive and designer respectively. A source told WWD that "the Spades want to continue to play a role in the company after it's sold." Liz Claiborne is said to be eager to make a purchase, especially after having lost out to J. Jill in a bid for Talbot's.

Kate Spade made an auspicious start with an offering of bags, but soon branched out into eyewear, footwear, ready-to-wear, home products, stationary and hair accessories. The company has opened its own boutiques and there is also a Jack Spade division that sells leather goods and other accessories for men. In 2005/6, the company generated $275 million in retail sales and has predicted an increase of 40 percent for this year.

www.katespade.com
21 April 2006

Liz Claiborne to increase China sourcing

US clothing retailer Liz Claiborne, maker of brands such as Juicy Couture, is to increase its China sourcing to up to 80 pct by 2010, following the lifting of quotas on Chinese apparel imports in 2008, the South China Morning Post reported. The company's senior vice president Robert Zane was cited as saying that China now accounts for 25 pct of Liz Claiborne's global sourcing of apparel and accessories, which is worth more than two bln usd annually.

Speaking at an apparel forum in Hong Kong, Zane was cited as saying that he expects to see massive consolidation in the global clothing trade and that his firm expects to reduce sourcing from 340 factories in 40 countries to 125 factories in 15 countries.

Liz Claiborne will increasingly source from large factories, each employing tens of thousands of workers while offering supply chain services besides manufacturing garments, according to the report. One such supplier is Hong Kong-listed Luen Thai Holding, which has extensive manufacturing and supply chain facilities in Guangdong province, the paper said. Following the end of the global textile quota system on Jan 1 last year, China's share of the US textile and apparel market jumped to 27.7 pct from 20.3 pct in 2004.

Liz Claiborne launches Lucky Brand Jeans with own stores

American conglomerate Liz Claiborne sells its fashions at department stores and other retailers, but has opted to launch its own chain this summer to trumpet its Lucky Brand jeans line. It's not the first time the long-time supplier has dipped its toes in retailing waters. Indeed, it already has a handful of banners under the Mexx, Liz Claiborne and other names, even though those brands are carried at rival merchants. "It's tremendous exposure for the brand," said Walter Lamothe, who heads the company's retail division.

Faced with limited wholesale opportunities and a shrinking department store market, manufacturers are increasingly turning to retailing to give them a higher profile - and additional business. The roster of wholesalers that are branching out into retail seems to be growing by the day. It ranges from Puma and Nine West shoes to Tommy Hilfiger fashions, Apple computers and Buffalo jeans.

Wholesalers are trying to emulate the success of retailers such as Zara, whose names have become a brand in their own right, he said. But manufacturers take on added risk by going the retailing route, said merchandising consultant David Howell of Associate Marketing International. They tread a fine line between operating as a successful wholesaler and also passing muster as a retailer. Having separate stores showcase the brand, and while it competes with department stores that carry the same labels, the exposure helps bolster sales.

Liz Claiborne Q4 profit drop

Apparel giant Liz Claiborne has recorded a drop in fourth quarter profits due to stock option expenses and lower wholesale sales. Net income for the quarter ended 31 December 2005 fell 5.3 percent to $78.3 million (£44.8 million). Sales remained basically flat, with only a slight increase of 0.2 percent to $1.2 billion. Wholesales sales dropped 7.4 percent to $647 million as a result of declines in the US of Liz Claiborne, Ellen Tracy, Sigrid Olsen and licensed DKNY Jeans men's brands.

The company said that it would aggressively expand it retail store network to at least 1,400 units. Company executives said that each of seven formats could have an average of 200 stores, or between 150 and 200 stores for brands like Lucky, Juicy Couture and Sigrid Olsen.

"In the face of a challenging market environment we are continuing to focus on those things we can control," said chairman and chief executive Paul Charron. "We're taking significant steps to take costs out of the business and streamline our operations to more efficiently manage our brand portfolio and more closely align our business with the rapidly changing customer and consumer needs."

Retail sales rose 10.4 percent to $368 million, thanks partly to new store openings, a 6 percent rise in same-store sales in its specialty store business a 2 percent increase in its outlets business.

Income during the year rose 1.2 percent to $317.4 million, while sales for the year rose 4.6 percent to $4.85 billion.

Charron said during a conference call with analysts that high energy costs, rising interest rates and increasing inflation have caused consumers to pull back, creating a volatile retail environment. He added that the company is continuing its global expansion plans for its brands with the highest growth. These brands include Juicy Couture, Lucky Brand, Sigrid Olsen and Mexx.

According to Charron, the company is also looking at various multiple merger and acquisition opportunities. "We're interested in brands that occupy unique niches in the marketplace.We are particularly focused on assets that will further bolster our direct-to-consumer, men's, international and accessories businesses," he said.

Speaking about the Claiborne stable of brands, Charron said: "Each of these brands has a unique aesthetic with an especially clear target consumer and positioning in the marketplace." For Lucky the company would pursue "a strategy that capitalizes on its rock 'n' roll, American heritage to create a truly unique, global denim based, lifestyle retailer", while for Sigrid Olsen "we're looking to expand our domestic retail presence by about 20 to 24 stores.ultimately envisioning this as a 150-plus store chain."

www.lizclaiborne.com
2 March 2006

Liz Claiborne to cut jobs

Liz Claiborne Inc. this week said it would streamline its operations in a move to boost profits and better integrate acquisitions, according to Fashion Wire. The New York-based maker of C&C California and Juicy Couture brands, said the move included 500 job cuts and a $60 million charge, and expects to the plan The company expects to save $60 to $65 million in a gross annual basis starting in 2007, with $30 million to $35 million of cost savings expected in 2006. The cost savings in 2006 and 2007 are before increased investment in marketing and in-store support for high-potential growth brands, including Juicy Couture, Lucky Brand and Sigrid Olsen, as well as other brands such as Liz Claiborne.

Liz Claiborne plans to cut about 500 positions, or about 4% of its global work force, with "significant" staff reductions at the more senior levels of the organization. The company also said it will close or "repurpose" about 20 retail stores. "While we applaud the difficult decision to reduce the workforce in order to enhance shareholder value, yesterday's restructuring announcement leads us to suspect headwinds may be stronger than previously indicated," said Morgan Keegan analyst Brad Stephens in a note to clients.

Paul Charron, Liz Claiborne chairman and chief executive said in a news release that the moves will make the company more nimble and flexible in an increasingly competitive marketplace. Shares in Liz Claiborne fell as much as 16 cents t0 $33.60 when the markets opened.

8 February 2006

Liz Claiborne report strong growth

US-based women's apparel conglomerate Liz Claiborne has posted "very strong second-quarter results". A number of its brands reported sales growth. Net sales for the second quarter climbed 7.1 percent to $1.1 billion (£63 million). Meanwhile net proft grew 7 percent to $54 million from $51 million in the same period the year before.

Chairman and CEO Paul Charron said that the results were driven by "a balanced and diversified portfolio" as well as efficient implementation of important strategies. In addition, he said: "Our ability to successfully execute our multi-brand, multi-channel, multi-geography diversification strategy enabled us to achieve record sales and EPS, which exceeded the upper end of our forecasted range."

He pointed out that Mexx Europe, Juicy Couture, JH Collectibles, Axcess women's and licensed DKNY Jeans wholesale apparel business, Liz Claiborne and licensed Kenneth Cole accessories wholesale non-apparel businesses, Mexx Canada and Lucky Brand retail businesses and licensing business performed very well.

www.lizclaiborne.com
28 July 2005

C&C California Merges With Liz Claiborne

Liz Claiborne Inc. announced last week it has agreed to purchase all of the equity interest in C & C California. The purchase price consists of an initial payment of approximately $28 million. The transaction is expected to close by the end of January 2005.

C & C California, which has been a hit with stockists and editors alike, creates chic, California-inspired basics with an emphasis on classy comfort, premium fabrics, simple detailing and vibrant, tasteful colors. C & C primarily targets the fashion-conscious woman between the ages of 18 and 45, as well as baby boomers. C & C's products have a broad appeal, offering a relaxed, comfortable and quality assortment.

Currently, women's products account for approximately 96% of net sales while the recently launched men's and children's products account for the remaining 4% of net sales. C & C's products include its signature t-shirt collection and, in 2005, will be expanded to include a variety of casual sportswear, including denim-related products and woven items including trousers, shirts and skirts.

Commenting on the announcement, Paul R. Charron, Chairman and Chief Executive Officer of Liz Claiborne Inc., said: "We are quite pleased to announce this acquisition. C & C is one of the most successful new brands in the contemporary zone, an area we have found to be particularly attractive. The addition of C & C to our portfolio provides further channel diversification through its select specialty store and high-end department store distribution. C & C has significant organic growth potential in its signature t-shirt line and will rapidly evolve into a full lifestyle collection of casual sportswear items. We also feel there are abundant brand extension opportunities in non-apparel categories, as well as in licensing and additional international distribution."

Claire Stansfield and Cheyann Benedict, the co-founders of C & C, will remain with the Company as Co-Presidents.

Claire Stansfield and Cheyann Benedict, co-founders of C & C, said: "We are thrilled to be part of the Liz Claiborne family, and are excited to have the opportunity to work with a company with so much experience in operations, sourcing and expertise in building worldwide brands. We started the company in 2002 with a plan to create an alternative California lifestyle brand for all ages, shapes and sizes -- a classic, easy and cool brand for the whole family. We could not be more proud to be part of a company that understands our vision and has an amazing team managing and guiding brands to worldwide recognition."

www.lizclaiborne.com
12 January 2005

Claiborne sells Kenneth Cole stake

The US clothing concern Liz Claiborne has announced that it has sold its stake in the US footwear and clothing company Kenneth Cole. The sale is meant to cover fourth-quarter costs related to redundancies in the US and Europe.

New York-based Liz Claiborne has sold all of its 1.5 million shares in Kenneth Cole for around $12 million (GBP 6.5 million). All the proceeds from the sale will go to severance pays of $6 million to $7 million in Europe, when the Group terminates the Mexx catalogue business and centralises "decision-making and facilitates the management of a multi-brand platform."

The group is introducing a number of its brands to Europe and is using the Dutch fashion retailer Mexx, which it acquired in 2001, to do this. The company is also closing a US distributions centre in New Jersey. This will cost the group another $4 million and, according to US press reports, will cost approximately 200 people their jobs.

In a statement to the press, New York-based Kenneth Coles said that it had bought back 500,000 shares from Liz Claiborne for $13.9 million. This amount represents about 2.5% of the total shares outstanding.

Liz Claiborne acquired a stake in Kenneth Cole in 1999, when it made a licensing agreement with the company for its branded women's sportswear. Earlier this year, Cole ended the collaboration with Claiborne and sold the licence to the US clothing manufacturer Paul Davril. Davril already produces Kenneth Cole men's sportswear.

www.lizclaiborne.com
www.kennethcole.com
16 December 2004

Juicy Couture to expand

American leisure wear producer Juicy Couture wants to radically expand its reach under new owner Liz Claiborne by developing accessories, jewellery and fragrance lines. The brand has been prevented from expanding up till now due to lack of major financial backing. The company said that over the next three years accessories, shoes, bags, jewellery and fragrances will be launched with a variety of licensing partners.

Juicy is also expanding distribution of its apparel and moved into the Italian market this spring, a move it said has gone well. "We have had encouraging results in Italy and this success is also due to the many celebrities who wear our clothes."
The company will show the men's collection at the next edition of Pitti Uomo next June.

April 25, 2003

Liz Claiborne buys Juicy Couture

US apparel giant Liz Claiborne Inc on Tuesday announced it has agreed to buy posh casual apparel maker Juicy Couture, but did not disclose the sum involved in the takeover. New York-based Liz Claiborne said the deal for Juicy's parent, Travis Jeans Inc, is expected to close in the second quarter.

Liz Claiborne added in a news release that Juicy Couture, which is based in California, enjoyed sales of around USD 47 million in 2002 and has agreements with international distributors in Europe, Canada and Asia with its products available at more than 1,100 stores in the US.

Juicy Couture has become immensely popular since fashion conscious glamour girls were regularly spotted in Juicy's comfy designs, especially the colourful hoodies. Fans of the form-fitting zip-up hooded jackets include Sarah Michelle Gellar, Gwyneth Paltrow, Cameron Diaz, Madonna, Britney Spears, Lara Flynn Boyle, Kirsten Dunst and Gwen Stefani. Jennifer Lopez loves them so much that her J. Lo clothing company knocked them off, as did Banana Republic.

Juicy Couture, which primarily targets fashion-conscious women aged 18 to 45, as well as teens and baby boomers, said its founders will remain with the company as co-presidents.

Liz Claiborne chairman and CEO, Paul Charron, commented: "Juicy Couture is one of the strongest trending brands in the upscale contemporary and denim zones. With its appeal to a more fashion conscious and affluent consumer, Juicy Couture adds another dimension to our portfolio, further broadening our ability to offer apparel and accessories across a wide range of consumer lifestyles and tastes.

In addition to significant organic growth of the existing Juicy product lines, we feel there are abundant brand extension opportunities in non-apparel categories, as well as in company-owned retail stores, additional international distribution and licensing."

Juicy hoodie fabrics include terry, velour, thermal, a fleece that feels like cashmere and cashmere. All have matching pants, and in some cases capris, ranging from USD 75 (GBP 49) to USD 203 (GBP 131). More than 25 colours, including several shades of pink, entice consumers. Stores such as Barneys, Saks, Neiman Marcus, Henri Bendel's, SCOOP, Fred Segal, Ron Herman and Lisa Klein have a hard time keeping them in stock.

March 19, 2003

Liz Claiborne closes stores

US women's apparel maker Liz Claiborne Inc. is to close all 22 of its domestic specialty retail stores currently operating under the Liz Claiborne brand name. The company said on Thursday that five of these stores will be converted to either a Mexx or Sigrid Olsen format and that it will take a restructuring charge in the fourth quarter of 2002 of 4.5 million USD.

As part of these changes to its specialty retail strategy, Liz Claiborne Inc. plans to open three Mexx stores and six Sigrid Olsen stores in the United States in 2003 to test the consumer response to both retail concepts. New York-based Liz Claiborne, which acquired Dutch fashion company Mexx Group BV in spring 2001, said the first US Mexx store will open in autumn in New York, at the company's present Liz Claiborne flagship location.

Net sales were a record 3.718 billion USD for the full year 2002 the company said, compared to 3.449 billion USD for the comparable 2001 period, a 7.8 per cent increase.

www.lizclaiborne.com
February 24, 2003

Claiborne launches men's sleepwear

Liz Claiborne Inc. announced on Wednesday that it has reached an agreement in principle with Knothe Apparel Group to license men's sleepwear, robes, loungewear and boxer shorts under the Company's Claiborne label. The new collection is expected to be launched to the trade in March and in stores in November 2003.

Barbara Friedman, president of Licensing for Liz Claiborne Inc. commented, "The addition of the sleepwear category rounds out the assortment of extensions for the Claiborne brand."

Licensed products from other companies currently under the Claiborne label include accessories, boys apparel, dress shirts, formalwear, neckwear, outerwear, pants, slippers, socks, sunglasses and tailored clothing. The 29 brands in the Liz Claiborne Inc. portfolio are available at more than 26,000 points of sale worldwide.

February 14, 2003
www.lizclaiborne.com

Liz Claiborne to develop home collection

Liz Claiborne announced that it has signed an agreement with American Pacific Enterprises to produce a complete home collection under the Liz Claiborne brand name. The new line will be launched to the trade at the Fall 2003 market in March and will include bedding, bath and window treatments.

Commenting on the announcement, Barbara J. Friedman, president, Liz Claiborne Licensing, said: “The addition of bed and bath products and window treatments to the Liz Claiborne family of licensed products is yet another step in fully satisfying the needs of our consumer. We chose American Pacific Enterprises because of their innovative design, merchandising talent and their proven track record of building top quality brands."

Liz Claiborne Inc. designs and markets an extensive range of fashion apparel and accessories for women, men, teens, children and infants. The Company also markets fragrances for women and men. The 29 brands in the Liz Claiborne Inc. portfolio are available at more than 26,000 points of sale worldwide.

December 13, 2002
www.lizclaiborne.com