PrAna, which is owned by Liz Claiborne, may be sold as a package with three other women‘s brands: Dana Buchman, Ellen Tracy, Sigrid Olsen, according to a report from Women’s Wear Daily. The fashion paper reported that the Regatta division of Hong Kong-based Li & Fung Ltd and Windsong Apparel were among the suitors for a package deal for the four brands.
In July, Claiborne announced plans to divest 16 of its 36 brands – including prAna – in an effort to simplify its corporate structure and to reduce overall expenses. The move also is part of a plan to refocus the company away from wholesale toward retail. PrAna was acquired by Claiborne in November 2005 for roughly $50 million.
In September, Li & Fung, a sourcing and trading company, bought four other Liz brands – Emma James, Intuitions, JH Collectibles and Tapemeasure . being sold as part of the company‘s large restructuring that included trying to sell 16 brands, cutting jobs and refocusing the company away from wholesale toward retail. But WWD said Li & Fung president Rick Darling denied his company was entering another round of bidding with Claiborne.