Jos. A. Bank Clothiers Inc. (Baltimore) has reportedly joined the bidding for Lucky Brand Jeans (Vernon, Calif.).
The apparel and denim company is being sold by parent Fifth & Pacific Companies Inc. (New York), the former Liz Claiborne Inc.
According to Women’s Wear Daily, Fifth & Pacific wants to focus on its Kate Spade unit and is said to want to raise $700 million by selling off both its Lucky Brand and Juicy Couture divisions. WWD reports that the asking price for Lucky Brands is said be around $400 million, $300 million for Juicy Couture.
“The second rounds have been completed in both auctions,” said Women’s Wear, “and the race for Juicy is down to IDG Capital Partners, a China-focused investment firm, and one other player, whose identity could not be learned, said a source. Iconix Brand Group Inc. was also looking at Juicy, but is said to have dropped out.”
Jos. A. Bank ceo Neal Black would not confirm the rumor.