Fifth & Pacific Companies, Inc.

$FNP - NYSE - Clothing, Textiles and Accessories
ON 4


Up 0 0 Down

New York, NY, December 3, 2012 - Fifth & Pacific Companies, Inc. (NYSE: FNP)
today announced the appointment of Paul Blum as Chief Executive Officer, Juicy
Couture, effective immediately. Mr. Blum is an experienced leader and respected
brand builder who will be responsible for driving growth at Juicy
Couture. Mr. Blum will report directly to William L. McComb, Chief Executive
Officer, Fifth & Pacific Companies, Inc.

Commenting on the announcement, Mr. McComb said: "I am very pleased with today's
announcement.  Paul's experience running and building lifestyle brands is a
perfect match for the CEO role at Juicy Couture.  His multi-channel background,
his passion for digital marketing and sales, and his experience in leading a
creatively driven business are just what we were looking for.  He is an
outstanding leader and collaborator."

"The Juicy Couture brand has such a promising future," said Mr. Blum. "I've
watched the brand change in recent seasons, and I believe it has the ability to
scale globally, and through multiple channels, to meaningful heights.  I am
passionate about its digital presence, its capability to expand in accessories,
and the relatively unharnessed global equity.  I am very excited to join this

Mr. Blum spent 15 years at Kenneth Cole Productions where he held positions of
increasing responsibility, holding the position of President and COO when he
left in 2005 to become the Chief Executive Officer of David Yurman, the
fine designer jewelry business.  Mr. Blum rejoined Kenneth Cole Productions as
Chief Executive Officer in 2011 and joins Juicy Couture from there.

"We've come a long way in the past two years in reinvigorating Juicy, but we
have more to accomplish," said LeAnn Nealz, President and Chief Creative Officer
of Juicy Couture.  "We look forward to welcoming Paul and moving forward with
our turnaround of the business."  Ms. Nealz will report directly to Mr. Blum.

About Fifth & Pacific Companies, Inc.
Fifth & Pacific Companies, Inc. designs and markets a portfolio of retail-based,
premium, global lifestyle brands including Juicy Couture, kate spade, and Lucky
Brand. In addition, the Adelington Design Group, a private brand jewelry design
and development group, markets brands through department stores and serves
JCPenney via exclusive supplier agreements for the Liz Claiborne and Monet
jewelry lines and Kohl's via an exclusive supplier agreement for Dana Buchman
jewelry. The Company also has licenses for the Liz Claiborne New York brand,
available at QVC and Lizwear, which is distributed through the club store
channel. Fifth & Pacific Companies, Inc. maintains an 18.75% stake in Mexx, a
European and Canadian apparel and accessories retail-based brand.
Visit for more information.

Forward-Looking Statements
Statements contained herein that relate to the future performance, financial
condition, liquidity or business of Fifth & Pacific Companies, Inc. or any of
its businesses, including Juicy Couture (collectively, the "Company") or any
future event or action are forward-looking statements under the Private
Securities Litigation Reform Act of 1995. Such statements are indicated by words
or phrases such as "intend," "anticipate," "plan," "estimate," "target," "aim,"
"forecast," "project," "expect," "believe," "we are optimistic that we can,"
"current visibility indicates that we forecast," "contemplation" or "currently
envisions" and similar phrases. Such statements are based on current
expectations only, are not guarantees of future performance, and are subject to
certain risks, uncertainties and assumptions. The Company may change its
intentions, belief or expectations at any time and without notice, based upon
any change in the Company's assumptions or otherwise. Should one or more of
these risks or uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated, estimated
or projected. In addition, some risks and uncertainties involve factors beyond
the Company's control. Among the risks and uncertainties are the following: our
ability to continue to have the necessary liquidity, through cash flows from
operations and availability under our amended and restated revolving credit
facility, may be adversely impacted by a number of factors, including the level
of our operating cash flows, our ability to maintain established levels of
availability under, and to comply with the financial and other covenants
included in, our amended and restated revolving credit facility and the
borrowing base requirement in our amended and restated revolving credit facility
that limits the amount of borrowings we may make based on a formula of, among
other things, eligible accounts receivable and inventory and the minimum
availability covenant in our amended and restated revolving credit facility that
requires us to maintain availability in excess of an agreed upon level; general
economic conditions in the United States, Europe and other parts of the world,
including the impact of debt reduction efforts in the United States; levels of
consumer confidence, consumer spending and purchases of discretionary items,
including fashion apparel and related products, such as ours; restrictions in
the credit and capital markets, which would impair our ability to access
additional sources of liquidity, if needed; changes in the cost of raw
materials, labor, advertising and transportation which could impact prices of
our products; our ability to successfully implement our long-term strategic
plans, including the focus on our JUICY COUTURE, LUCKY BRAND and KATE SPADE
brands and expansion into markets outside of the US, such as China, Japan and
Brazil, and the risks associated with the expansion into markets outside of the
US; our ability to sustain recent improved performance in our LUCKY BRAND
business; our ability to successfully improve the operations and results,
creative direction and product offering at  our JUICY COUTURE brand; our
dependence on a limited number of large US department store customers, and the
risk of consolidations, restructurings, bankruptcies and other ownership changes
in the retail industry and financial difficulties at our larger department store
customers; whether we will be successful operating the KATE SPADE business in
Japan and the risks associated in such operation; risks associated with the
transition of the MEXX business to an entity in which we hold a minority
interest and the possible failure of such entity that may make our interest
therein of little or no value and risks associated with the ability of the
majority shareholder to operate the MEXX business successfully, which will
impact the potential value of our minority interest; costs associated with the
transition of the LIZ CLAIBORNE family of brands, MONET US, DANA BUCHMAN, KENSIE
and MAC & JAC brands from the Company to their respective acquirers; our ability
to anticipate and respond to constantly changing consumer demands and tastes and
fashion trends, across multiple brands, product lines, shopping channels and
geographies; our ability to attract and retain talented, highly qualified
executives, and maintain satisfactory relationships with our employees; our
ability to adequately establish, defend and protect our trademarks and other
proprietary rights; our ability to successfully develop or acquire new product
lines, such as the Kate Spade Saturday line, or enter new markets, such as
China, Japan and Brazil or product categories, and risks related to such new
lines, markets or categories; risks associated with the sale of the LIZ
CLAIBORNE family of brands to J.C. Penney Corporation, Inc. and the licensing
arrangement with QVC, Inc., including, without limitation, our ability to
maintain productive working relationships with these parties and possible
changes or disputes in our other brand relationships or relationships with other
retailers and existing licensees as a result; the impact of the highly
competitive nature of the markets within which we operate, both within the US
and abroad; our reliance on independent foreign manufacturers, including the
risk of their failure to comply with safety standards or our policies regarding
labor practices; risks associated with our buying/sourcing agreement with Li &
Fung Limited ("Li & Fung"), which results in a single third party foreign
buying/sourcing agent for a significant portion of our products; risks
associated with the delay in our previously announced plan to close our Ohio
distribution facility and transition to a single third-party service provider
for a significant portion of our US distribution, including risks associated
with continuing to operate our Ohio distribution facility beyond the end of
fiscal 2012, including increased operating expenses, risks related to systems
capabilities and risks related to the Company's ability to continue to
appropriately staff the Ohio facility with both union and non-union employees; a
variety of legal, regulatory, political and economic risks, including risks
related to the importation and exportation of product, tariffs and other trade
barriers; our ability to adapt to and compete effectively in the current quota
environment in which general quota has expired on apparel products, but
political activity seeking to re-impose quota has been initiated or threatened;
our exposure to currency fluctuations; risks associated with material
disruptions in our information technology systems; risks associated with privacy
breaches; risks associated with credit card fraud and identity theft; risks
associated with third party service providers, both domestic and overseas,
including service providers in the area of e-commerce; limitations on our
ability to utilize all or a portion of our US deferred tax assets if we
experience an "ownership change"; the outcome of current and future litigation
and other proceedings in which we are involved and such other factors as are set
forth in this press release, and in the Company's Quarterly Report on Form 10-Q
for the quarter ended September 29, 2012, filed with the S.E.C. on October
25, 2012, including in the sections entitled  "Item 1A-Risk Factors" and
"Statement on Forward Looking Statements." The Company undertakes no obligation
to publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.

|Investor Relations Contact:           |Media Contact:                         |
|Robert J. Vill                        |Jane Randel                            |
|Senior Vice President, Finance and    |Senior Vice President, Corporate       |
|Treasurer                             |Communications                         |
|Fifth & Pacific Companies, Inc.       |Fifth & Pacific Companies, Inc.        |
|201.295.7515                          |212.626.3408                           |

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
    other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
     originality of the information contained therein.

Source: Fifth & Pacific Companies, Inc. via Thomson Reuters ONE

SHARE THIS: Twitter StockTwits LinkedIn Google Plus SHORT URL: