October 2011 News:
J.C. Penney Co.
said Wednesday that it had reached an agreement with Liz
Claiborne Inc. to pay $267.5 million for the Liz
Claiborne brands and fashion-jewelry brand Monet. Penney
has been the exclusive licensee for all Liz Claiborne and
Claiborne-branded merchandise in the U.S. and Puerto Rico
since August 2010. The original 10-year agreement allowed
Penney to exercise its rights to purchase the brands after
the fifth year of the agreement, but the terms were
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