Within days of announcing the discontinuance of Mexx in the U.S., Liz Claiborne Inc. said it is closing the Laundry by Shelli Segal stores.
The three Laundry stores, one in New York and two in California, will close by May. The move does not affect Laundry’s wholesale business.
Claiborne is exiting Laundry retail to focus on the wholesale division, according to the $4.99 billion firm. Claiborne’s new chief executive officer, William L. McComb, said in the company’s earnings call last Wednesday that he is evaluating its portfolio and is open to divesting of brands.
“In order to have the biggest impact in the retail arena, we need to focus on those businesses with the greatest potential for growth and profitability,” said Claiborne group president Jill Granoff. “This means accelerating proven winners like Juicy Couture, Kate Spade and Lucky Brand Jeans, nurturing high-potential brands like Sigrid Olsen, renewing our outlet business and building an integrated e-commerce platform. Unfortunately, it also means closing retail formats that do not have the potential to reach at least 100 stores.”
Manhattan’s SoHo store opened at the end of 1999, followed by the South Coast Plaza store in Costa Mesa, Calif., in 2000 and the Beverly Center store in Los Angeles in 2003.
Claiborne is closing its Mexx business in the U.S., which once had 11 stores, but now is down to four.