Liz Claiborne, a name known to so many throughout the decades, will soon disappear. The company announced that it is going to change its name to Fifth & Pacific Cos. and focus on leaving the malls across America and bringing more attention to its brands as it shifts towards direct selling to its customers and expanding worldwide.
Liz Claiborne has been moving toward this moment for quite some time. It sold its namesake brand and a jewelry line to JCPenney in 2011, and released three more of its brands (Mexx, Dana Buchmann, and Kensie) as well. It believes that with its Juicy Couture, Kate Spade, and Lucky Brands, the now Fifth & Pacific Cos. will be able to be more relevant in the fashion world and increase its revenue. It chose Fifth & Pacific Cos. to highlight the known fashion districts on the east and west coasts. It wants to show it has national reach, and therefore will be appealing to those customers, no matter what side of the nation they may be on.
With net revenue being down 9% this quarter compared to last year, Liz Claiborne could use a little pick-me-up. A new strategy, it seems for Liz Claiborne, deserves a new name. On the NYSE, the name will change to FNP once the change is official in mid-May.
But the creative and branding push has already started. Visiting its website, one will see its new logo, along with the explanation and mission of the new strategy and personality of the organization. Also, one of the links is a web video, showing one of the executives of Liz Claiborne making the announcement of the name change:
And for those who still want to cling to the past, they have the Liz Claiborne site still live, which those customers could still enjoy probably until May.
As the name change and branding continues, it will be interesting to see how their customers and competitors see the move. How will this help the brands under Fifth & Pacific Cos.? In the video and press release, it mentions the possibility of connecting more with the Asian market, notably Shanghai. Will moving from a name-based brand to a geographically based brand help in going overseas? It will be interesting to watch.
But this isn't the first time a fashion brand has done this, and recently, too. Dress Barn changed its name to the Ascena Retail Group, and Ann Taylor Inc. shortened its name to Ann, Inc.
So far, Fifth & Pacific Cos. has done a good job with the transition. Let's see if it continues.