Liz Claiborne to change name to Fifth & Pacific Co.

New York City -- Liz Claiborne Inc. said Wednesday that it will change its name to Fifth & Pacific Cos., effective May 15, to reflect the divestiture of its namesake brand as well as a newly honed focus on its core banners.

The owner of Juicy Couture, Kate Spade and Lucky Brand agreed last October to sell its Liz Claiborne and Monet brands to J.C. Penney Co. for $267.5 million in a move to reduce debt. It also sold its Dana Buchman brand to Kohl’s Corp.

"While it's difficult to replace an iconic name like Liz Claiborne, we believe that Fifth & Pacific Cos. telegraphs who we are today — taking inspiration from New York and California, while describing our reach and our potential," said William L. McComb, CEO.