Post date: Oct 07, 2013 8:4:30 PM
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.