PrAna, which is owned by Liz Claiborne, may be sold as a package with
three other women's brands: Dana Buchman, Ellen Tracy, Sigrid Olsen,
according to a report from Women's Wear Daily.
The fashion paper reported that the Regatta division of Hong Kong-based
Li & Fung Ltd and Windsong Apparel were among the suitors for a
package deal for the four brands.
In July, Claiborne announced plans to divest 16 of its 36 brands
including prAna – in an effort to simplify its corporate structure and
to reduce overall expenses. The move also is part of a plan to refocus
the company away from wholesale toward retail. PrAna was acquired
by Claiborne in November 2005 for roughly $50 million.
In September, Li & Fung, a sourcing and trading company, bought
four other Liz brands – Emma James, Intuitions, JH Collectibles and
Tapemeasure . being sold as part of the company's large restructuring
that included trying to sell 16 brands, cutting jobs and refocusing the
company away from wholesale toward retail. But WWD said Li & Fung
president Rick Darling denied his company was entering another round of
bidding with Claiborne.
