After numerous failed attempts to improve Juicy Couture’s sales, Fifth and Pacific sold the company to Authentic Brands Group (ABG) for $195 million in October 2013. Fifth and Pacific stated that they preferred to focus their resources on Kate Spade, a faster growing brand with much more potential than Juicy Couture. Shortly after, ABG signed a deal to sell Juicy Couture exclusively at discount retailer Kohl’s.
Never in a million years would I have predicted that Juicy Couture would end up in Kohl’s, but that’s business for ya! And as we know, every business deal has winners and losers:
-Girl World: Juicy Couture was an icon for all typical girly-girls (including myself). Now what are we supposed to wear when we go to the salon for our highlights and manicures?!
-Pam and Gela: They sold their company for $53.1 million, and just a few years later, their company was sold for $195 million. Had they held on a little longer, they could have made way more money or saved their dying brand!
-Fifth and Pacific Companies: they made $18.8 billion by selling a dying brand, and now they get to focus their energy on Kate Spade, which will make even more profit.
-Kohl’s customers: This fall, they’re going to have access to a well-known and (hopefully) trendy brand at an affordable price.
-Pam and Gela: That’s right! They may have lost their beloved Juicy Couture, but these two fashion entrepreneurs didn’t wait long to make a comeback. Their new and more sophisticated line, PAM AND GELA, is now sold nation wide at retailers including Bloomingdales. It still has the same sass as Juicy Couture, but it’s a little more refined.
Juicy Couture’s prime may be over, but it will forever live on in our hearts.
Viva la Juicy!