Last year American fashion company Liz Claiborne achieved a net profit of $373 million. This year the company’s end of year results for the fourth quarter are not as profitable to say the least. Liz Claiborne booked a loss of $73 million, due to the major reorganisation which costed the fashion company $205 million. Previously in 2006, Liz Claiborne already invested $87 million to reorganise its business after the disappointing proceeds of 2005.
Dutch clothing label Mexx made a net profit of $1.252 billion, which is more then 7,8% compared to last year. Lucky Brand gained a net revenue of 9,8% to $422 million in comparison to 2007 and the sale of Juicy Couture went up with 48,9 % to $494 million. The in 2006 acquired brand Kate Spade, was responsible for an income of $90 million.
Liz Claiborne’s reorganisation strategy hasn’t ended yet. At the beginning of this year, the fashion company sold three labels. Prana Living LLC acquired yoga brand Prana, and fashion labels Laundry By Design and C&C California were sold to Perry Ellis International.
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