Juicy Couture Plans to Close U.S. Stores Before Opening New Stores
Authentic Brands Group (ABG) is planning to close all its U.S. Juicy Couture stores before launching new ones in 2015. The company also announced in a press release that it plans to expand its Juicy Couture brand. Authentic Brands acquired Juicy Couture in a deal last fall worth $195 million.The current U.S. Juicy Couture stores are being phased out by ABG. ABG will then start opening new Juicy Couture stores in the U.S. and Cananda next year, but they will not be the same as the current Juicy Couture stores. Authentic Brands says these will be a series of new concept stores. New York City, L.A. and Vancouver are some of the target cities for the new concept stores. ABG also plans to expand Juicy Couture internationally and add 127 stores over the next five years. Juicy Couture already has 200 retail stores outside North America.
ABG says it will expand the Juicy Couture Black Label Collection. It is planning partnerships for the collection with Elizabeth Arden, Steve Madden, Movado, Safilo, Contour and Swimwear Anywhere. ABG also plans to relaunch the juicycouture.com website.
Posted on June 24, 2014