Fifth & Pacific has announced a deal to sell Lucky Brand Jeans to Leonard Green & Partners
. The deal is worth $225 million. Fifth & Pacific also recently
sold its Juicy Couture brand. Fifth & Pacific says it wants to focus on its Kate Spade brand.
William L. McComb, Chief Executive Officer of Fifth & Pacific Companies, Inc., said in a statement, "We believe that by focusing all of our resources on the huge opportunity at Kate Spade, we can deliver the strongest value creation opportunity for our shareholders. This is all about bringing Kate Spade to its full potential. The opportunity we have today is not unlike the opportunity that launched our corporation back in 1976: Kate Spade is a rapidly growing brand, with global appeal and strong margins, offering consumers something more than any of its competitors."
Actress Lauren Hutton was the face
of a recent Lucky Brand campaign.