Home Wealth  Money Liz Claiborne Sells Perfume Brands to Elizabeth Arden

Liz Claiborne Sells Perfume Brands to Elizabeth Arden

Posted: Aug. 12th, 2011  |  By Forbes

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Apparel and accessories company Liz Claiborne said today it has made several moves to reduce its debt and manage costs.

The company has amended its long-term license agreement with Elizabeth Arden (nasdaq: RDEN - news - people ) , such that the cosmetics company will acquire the trademarks for the Curve fragrance brands as well as other, smaller fragrance brands, for $58.4 million in cash.

The amendment also includes lower effective royalty rates with brands still under Liz Claibornes license, including Juicy Couture and Lucky brand fragrances.

Liz Claiborne (nyse: LIZ - news - people ) also said it has made a distribution agreement with Li & Fung for Liz Claibornes owned retail stores as well as for its wholesale business, thereby reducing the costs associated with distribution.

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