Liz Claiborne Sold Itself to JC Penney for $328 Million

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Welcome home, Liz Claiborne. Photo: Daniel Acker/Bloomberg via Getty Images

Liz Claiborne Inc. has sold their namesake clothing label to JC Penney, which isn't a huge surprise since the collection is already sold there exclusively. The $328 million deal will allow Liz Claiborne to pay off their debts and focus on growing their other labels, particularly Kate Spade, Juicy Couture, and Lucky Brand. [WWD]