Fashion group Liz Claiborne, owner of Juicy Couture, Kate Spade and Lucky Brand, is reported to be in talks to sell its Mexx brand.
It is understood that the group is talking to private equity firms Leonard Green & Partners, Sun Capital and Golden Gate Capital about a possible deal. According to Bloomberg, final bids for the brand are due in the next few weeks with a view to a sale going through in September.
Liz Claiborne has been struggling to contend with weak sales over recent years across the Juicy brand and a decline in international sales at Mexx. In April, it posted its 14th consecutive quarterly loss. It closed the UK Mexx retail operation and closed its concessions back in 2008 but has continued to wholesale the brand.
The group has been sold, licensed or closed a number of wholesale brands in recent years to focus on its higher performing brands with their own retail chains.