Liz Claiborne Completes Sale of Liz Claiborne and Monet Brands

Liz Claiborne, Inc. LIZ today announced that it has completed the transaction to sell domestic and international trademark rights of its Liz Claiborne family of brands and domestic trademark rights of its Monet brand to J. C. Penney Company, Inc. JCP Total cash proceeds of $288 million include an advance of $20 million in exchange for the Company's agreement to develop exclusive brands for J. C. Penney.