Three facts about Liz Claiborne, Inc. that were not presented in the text:
- Liz Claiborne, Inc. recently sold four of its midprice-apparel brands to a Hong Kong trading company.
- Liz Claiborne, Inc. is currently looking to “divest”, or sell, 16 of its 36 clothing labels.
- Liz Claiborne, Inc. is downsizing the company’s wholesale-apparel busines.
Liz Claiborne Reaches Agreement To Sell Four Labels to Li & Fung. (2007, September 14). Wall Street Journal (Eastern Edition), p. B.2. Retrieved October 23, 2007, from National Newspapers (27) database. (Document ID: 1335614181).)
4 comments:
Liz Claiborne, Inc.- Steve Moore
1. Last month, owner eliminated a layer of senior "group presidents", hired a new chief financial officer with expertise in diverstitures and split company into two divisions-retail, called "Direct Brands", and wholesale, called "Partnered Brands".
2. Seven months ago William McComb took over as CEO after leaving the Johnson & Johnson Company. He brang with him a new structure that is intended to bring focus, energy, and clarity to the company.
3. After downsizing, Claiborne and other competitors could rely on huge orders from department stores to make up the bulk of their sales.
Rachel Dodes (2007, July 11). Claiborne Seeks to Shed 16 Apparel Brands. Wall Street Journal (Eastern Edition), p. B.1. Retrieved October 24, 2007.
Liz Claiborne, Inc.- Jason Grier
-When she was 21 years old her sketch for a woman's coat won a Jacques Heim design competition sponsored by Harper's Bazaar magazine.
-Liz Claiborne, Inc. was founded on January 19, 1976, with approximately $250,000, including $50,000 of Claiborne's and her husband's savings.
-Liz Claiborne, Inc. became a public company in 1981. Within a few years their stock holdings made Claiborne and Ortenberg millionaires. The company's market share continued to expand and the profits were high. To continue increasing its market share as well as to diversify its product, Claiborne expanded her fashion lines to include petites, dresses, shoes, accessories, menswear, and perfume between 1981 and 1986. Six years later there were 19 divisions. Computer analysis of sales and traveling consultants provided the company with constant feedback, making it possible to quickly fill or reduce merchandise orders. The majority of merchandise was manufactured in the Far East with an overseas staff to monitor quality control.
Source: Encyclopedia of World Biography on Liz Claiborne: http://www.bookrags.com/biography/liz-claiborne/
Liz Claiborne inc. Mike Lima
Liz claiborne was founded on January 19,1976, with approximtely 250,000 dollars including 50,000 dollars that were the life savings of Claiborne and her husband. It was mainly established to make professional yet comfortable work clothing for women. The mix of sportwear with business apparel was not yet a trend in fashion so it was a good place to start in the market. They hired Jerome Chazen for Direct marketing and made over two milion dollars in there first year of sales. Not to mention that the prices were pretty affordable for consumers. The brand became instantly popular. In 1981 the sales increased from over 2 million to about 120 million. The company drastically grew to establish about 19 divisions of different types of apparel and items, not only clothing. The company had become known for its excellent quality of clothing and products and good prices. The company soon went public making it accessible to stock holders and it had reached about 2.2 billion dollars worth in sales by 1997. Needless to say The company is still worth billions.
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