Juicy Couture’s parent company, Fifth & Pacific, just sold the retailer to Authentic Brands for $US195 million.
Fifth & Pacific has been trying to boost sales at Juicy for the past two years, reports Tess Stynes at The Wall Street Journal.
Juicy Couture used to be one of the most sought-after and recognisable brands in fashion.
Its signature velour tracksuits were worn by celebrities from Jennifer Lopez to Jennifer Aniston.
The reason for Juicy’s problems is simple: its fashions haven’t changed that much since its heyday eight years ago.
Since then, the trends have changed and a new casual apparel brand has taken over: Lululemon.
Lululemon sells a flattering mix of casual apparel and has done a good job of offering different assortments over the seasons. It uses tasteful logos (if at all), which appeals to today’s consumer.
Meanwhile, Juicy’s items are emblazoned with garish logos that were more popular a decade ago. It still sells velour tracksuits, and tried to expand into handbags and jewelry.
Today, all the celebrities are stepping out in Lululemon, and that’s where women are lining up to buy their casual-wear.
Juicy Couture needs to seriously alter its fashions if it wants to succeed. Women don’t want to wear beaded velour tracksuits anymore.
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