New York -- Juicy Couture is closing its U.S. stores as it makes plans to debut a new retail store format in key high-traffic locations, including New York City, Los Angeles and Vancouver, in early 2015. The company expects to open 127 stores and in-store shops during the next five years in major cities across the globe.
The specialty apparel brand, which is owned by Authentic Brands Group (ABG) said its current stores are being phased out as they were opened by the brand's previous owner and are "no longer representative of the Juicy Couture brand" and ABG's vision for the brand's future. In 2013, Fifth & Pacific Companies (now Kate Spade Co.) sold Juicy to ABG. According to reports, the existing U.S. stores will be shuttered by the end of this summer.
The new Juicy stores will encompass the "world of Juicy," according to ABG, and are part of the company's broader strategy to showcase its expanded merchandise offerings.