Liz Claiborne Inc.'s new strategy is taking shape, and it clearly includes bolstering the company's core labels with designer power. Hot on the heels of its announcement that John Bartlett will take over the Men's Claiborne line comes the news that celebrity multi-tasker Isaac Mizrahi will design the troubled main Liz Claiborne Collection beginning with he Spring 2009 season. Mizrahi's exclusive Target agreement, which brought him roaring back into the fashion spotlight, ends at the end of this year, and though the mass retailer reportedly was keen on renewing it, they were unable to beat Liz Claiborne's offer and will lose a chunk of business worth over $300 million.
It is, however, good news for Macy's, Dillard's, Bon-Ton and other mid-range department stores who have cut back on the main Liz Claiborne label due to lackluster product and frustration with the profusion of lesser Liz-branded lines such as JCPenney's exclusive Liz & Co. label. Mizrahi will reportedy design only the main Liz Claiborne label, which will retain it's name but indicate his involvement on the label, as well as continue on with his own brands including his menswear, shoe and accessory lines and the couture collection he sells through Bergdorf Goodman. While advertising and promotional plans are a long way off, expect to see the camera-friendly Mizrahi all over your TV screens this time next year, as we wait to see whom Target finds to fill the $300 million void.
Isaac Mizrahi Named Creative Director of Liz Claiborne Brand (Liz Claiborne Inc. Full Press Release)
Isaac Mizrahi Leaves Target to Revamp Liz Claiborne by Eric Wilson & Michael Barbaro (NYTimes)