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$195 Mln For Juicy Couture

posted 7 Oct 2013, 13:04 by Mpelembe   [ updated 7 Oct 2013, 13:05 ]

The Daily Digit is $195 million.

That's how much it took fashion company Fifth & Pacific to unload Juicy Couture.

Known for its velour track suits and urban feel, Juicy's sales plummeted in recent years, even though it was still a top selling brand last year.

Attempts to stop the sales slide failed, weighing on profits, prompting Fifth & Pacific to put Juicy on the sales block.

Enter - buyer Authentic Brands Group, with other name tags such as Adrienne Vittadini and Prince.

Industry insiders say the transaction is part of a bigger trend in the fashion world, where everyone wants to copy the success of Micheal Kors.

Analysts say, for Fifth & Pacific this means betting on look-alike Kate Spade and using the proceeds to expand that brand.