PLANO, Texas--(BUSINESS WIRE)--Jan 8, 2025--
JCPenney and SPARC Group today announced that they have combined to form a new organization, Catalyst Brands, creating an unmatched portfolio of six iconic retail banners that celebrate the essence of American style.
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Catalyst Brands brings together SPARC Group’s brands Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica with JCPenney and its exclusive private brands, including Stafford, Arizona and Liz Claiborne. Catalyst Brands, which has served over 60 million customers over the past three years, has broad consumer reach through a robust distribution network of owned stores, e-commerce sites and wholesale partners.
Catalyst Brands Business Details and Ownership
Catalyst Brands launches with more than $9 billion of revenue, 1,800 store locations, 60,000 employees and $1 billion of liquidity and is poised to generate significant strategic and operational value. The combined Catalyst Brands organization is a joint venture formed in an all-equity transaction between JCPenney and SPARC Group, with shareholders Simon Property Group, Brookfield Corporation, Authentic Brands Group and Shein.
In addition, Catalyst Brands has sold the U.S. operations of Reebok and is exploring strategic options for the operations of Forever 21.
Leadership and Organizational Structure
Marc Rosen, formerly the chief executive officer of JCPenney, has become CEO of Catalyst Brands. There are three brand CEOs who will oversee the portfolio that report to Rosen. Michelle Wlazlo, formerly the chief merchandising and supply chain officer of JCPenney, has been promoted to Brand CEO of JCPenney. Natalie Levy continues her role as Brand CEO of Aéropostale, Lucky Brand and Nautica and Ken Ohashi will continue leading Brooks Brothers and has assumed responsibility of Eddie Bauer in his new role as Brand CEO of both brands. Kevin Harper, formerly an executive with Walmart, will join Catalyst Brands as chief operating officer. Marisa Thalberg, formerly the consulting chief marketing and brand officer of JCPenney, has become the chief customer and marketing officer of Catalyst Brands. Additional leadership appointments can be found here.
Catalyst Brands Proposition
“Catalyst Brands brings together the rich heritage of six unique brands with modern energy and a new vision for success. The word ‘catalyst’ reflects our drive to accelerate innovation and energy and amplify the impact of this powerhouse portfolio. Together, we bring scale, expertise and broad appeal to customers across America,” Rosen said. “For us, customers are at the heart of what we do. We have a shared belief that customers deserve fashion and style of great quality for any and every moment in life. We will leverage our resources and best-in-class industry talent to grow our brands further.”
With offerings that include business and formal fashion from Brooks Brothers, casual apparel for teenagers and young adults from Aéropostale, outdoor recreation clothing and gear from Eddie Bauer to everyday style for every family from JCPenney, and more, Catalyst Brands has expansive reach across market and customer segments. Catalyst Brands will integrate complementary strengths, including strong product design and sourcing capabilities, deep supplier relationships and a growing use of data-driven and AI technology to enhance its supply chain and inventory management capabilities and to deepen consumer relationships.
“Our relationships with more than 60 million customers and the deep data we have create a compelling consumer value proposition across our brands. We can design a more personalized shopping experience, offer unified loyalty and credit card programs, and ultimately, cross-sell more effectively. That’s one example of the many benefits we’ll see in this combination,” continued Rosen. “With a clean balance sheet, we’re in great position to move forward.”
Catalyst Brands is headquartered at the current corporate location of JCPenney in Plano, Texas with offices in New York, Los Angeles and Seattle.
ABOUT JCPENNEY
JCPenney is the shopping destination for America’s diverse, working families. With inclusivity at its core, the Company’s product assortment meets customers’ everyday needs and helps them commemorate every special occasion with style, quality and value. JCPenney offers a broad portfolio of fashion, apparel, home, beauty and jewelry from national and private brands and provides personal services including salon, portrait and optical. The Company and its 50,000 associates worldwide serve customers where, when and how they want to shop – from jcp.com to more than 650 stores in the U.S. and Puerto Rico.
In 2022, JCPenney celebrated 120 years as an iconic American brand by continuing its legacy of connecting with customers through shopping and community engagement. Please visit JCPenney’s Newsroom to learn more and follow JCPenney on Facebook, Instagram, and Twitter.
ABOUT SPARC GROUP
SPARC Group is a full-service retail enterprise that drives product and commerce innovation through its multi-brand platform. As a dedicated operating partner for several prominent brands, SPARC delivers quality fashion and lifestyle products with a focus on outstanding customer service. The company operates retail stores, shop-in-shops, and eCommerce platforms in the U.S. while supporting leading wholesale accounts across North America, South America, Europe, and Asia Pacific. The Catalyst Brands transaction does not affect the intellectual property owned by Authentic Brands Group which SPARC Group licenses (Aéropostale, Brooks Brothers, Eddie Bauer, Forever 21, Lucky Brand, and Nautica).
JCPenney and SPARC Group today announced that they have combined to form a new organization, Catalyst Brands, creating an unmatched portfolio of six iconic retail banners that celebrate the essence of American style. (Graphic: Business Wire)
LOS ANGELES (AP) — At least five people were killed and nearly 2,000 structures were destroyed as fierce wildfires raged in the Los Angeles area, officials said. Fast-moving flames burned through homes and businesses as residents fled smoke-filled canyons and picturesque neighborhoods that are home to many celebrities.
Many of the towering fires began Tuesday and were fueled by powerful Santa Ana winds, which gusted to more than 70 mph (112 kph) in some spots. The winds persisted Wednesday and for a while made it too dangerous for aircraft to attack the fires from the sky, furthering hampering their efforts. The winds lessened Thursday.
Gov. Gavin Newsom said the state has deployed more than 1,400 firefighting personnel to battle the blazes. In a rare, urgent plea, the Los Angeles Fire Department asked all off-duty firefighters in the city to help. Oregon was sending 300 firefighters and Washington state 146 personnel. Utah, New Mexico and Arizona were also dispatching teams.
AccuWeather estimated $52 billion to $57 billion in preliminary damage and economic loss has occurred from the fires.
President Joe Biden cancelled a trip to Rome and the Vatican to monitor the response from Washington.
Here's what to know about the fires:
An estimated 1,000 structures have been destroyed in the hilly coastal neighborhood of Pacific Palisades, making it the most destructive fire in Los Angeles history.
The wreckage surpassed that of the Sayre Fire of November 2008, which destroyed 604 structures in Sylmar, the northernmost suburb of the city, according to statistics kept by the Wildfire Alliance, a partnership between the city’s fire department and MySafe:LA.
Some 25 square miles (40 square kilometers) burned in Pacific Palisades, which is dotted with celebrity homes and was memorialized by the Beach Boys in their 1960s hit “Surfin’ USA.” The flames torched part of Palisades Charter High School, which has been featured in many Hollywood productions, including the 1976 horror movie “Carrie” and the TV series “Teen Wolf.”
The fire destroyed the public library, two major grocery stores, a pair of banks and several boutiques in Palisades Village. Actor Billy Crystal and his wife Janice lost their home of 45 years.
Residents rushing to escape created a traffic jam, blocking emergency vehicles from getting through. Crews used a bulldozer to push the abandoned cars off to the side. Photos depict what some residents describe as an apocalyptic scene.
Farther inland, the Eaton Fire north of Pasadena burned between 200 and 500 structures, substantially damaged five school campuses in Altadena and scorched more than 16.5 square miles (43 square kilometers). Employees at a senior center pushed dozens of residents in wheelchairs and hospital beds to a parking lot to escape.
The Hurst Fire, which started Tuesday night, prompted evacuations in Sylmar in the San Fernando Valley and grew to one square mile (2.6 square kilometers).
Late Wednesday, another blaze broke out in the Hollywood Hills. Called the Sunset fire, it was burning near the Hollywood Bowl and other iconic landmarks.
At least 130,000 people were ordered to evacuate — a number that kept changing because evacuation orders were continually being issued.
Several hundred were at the Pasadena evacuation center by Wednesday afternoon. Many were elderly.
The flames marched toward highly populated and affluent neighborhoods, including Calabasas and Santa Monica, home to California’s rich and famous. Hollywood stars including Mark Hamill, Mandy Moore and James Woods were among those forced to flee, and Moore later said she lost her home in Altadena.
The fires filled the air with a thick cloud of smoke and ash, prompting air and dust advisories for 17 million people across a vast stretch of Southern California, according to the South Coast Air Quality Management District.
The worst conditions were in the vicinity of the fires. In East Los Angeles, the air quality index hit an unhealthy 173. Good air quality is considered to be 50 or less.
Dr. Puneet Gupta, the assistant medical director for the Los Angeles County Fire Department, said wildfire smoke causes heart attacks and worsens asthma, while burning homes can release cyanide and carbon dioxide.
The NHL postponed the Los Angeles Kings’ home game against the Calgary Flames. They had been set to play at the Kings’ downtown arena Wednesday night.
The Critics Choice Awards rescheduled their Sunday ceremonies for Jan. 26. They're due to be held at the Barker Hangar in Santa Monica, only miles from Pacific Palisades.
The organization that puts on the Oscars has extended the voting window for Academy Awards nominations and delayed next week’s planned nominations announcement.
Film studios canceled two movie premieres because of the fires and windy weather, the Universal Studios Hollywood theme park closed for the day because of smoky, windy conditions and the J. Paul Getty Trust said two of its museums, the Getty Villa and Getty Center, will remain closed for the next few days.
Universal Studios also canceled shooting for numerous series, including “Hacks,” “Ted Lasso” and “Suits LA.”
All schools will be closed Thursday in the Los Angeles Unified School District.
Over 300,000 customers were without power in Southern California early Thursday, with more than half of them in Los Angeles County, according to PowerOutage.us, which tracks outages nationwide.
Thick heavy smoke from wildfires passes over the Hollywood sign in Los Angeles on Wednesday, Jan. 8, 2025. (AP Photo/Richard Vogel)
The Eaton Fire engulfs a property Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
Firefighters protect a structure as the Eaton Fire advances Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
Residents embrace in front of burning structures as the Eaton Fire advances Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Nic Coury)
Fire explodes out of a window of the Altadena Community Church, Wednesday, Jan. 8, 2025, in the downtown Altadena section of Pasadena, Calif. (AP Photo/Chris Pizzello)
Firefighters work inside a burned structure while battling the Eaton Fire, Wednesday, Jan. 8, 2025, in Altadena, Calif. (AP Photo/Nic Coury)
Trees sway in high winds as the Eaton Fire burns structures Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
People watch as the Eaton Fire destroys a neigborhood Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
The Palisades Fire ravages a neighborhood amid high winds in the Pacific Palisades neighborhood of Los Angeles, Wednesday, Jan. 8, 2025. (AP Photo/Damian Dovarganes)
Firefighters work a hydrant in front of the burning Bunny Museum, Wednesday, Jan. 8, 2025, in the Altadena section of Pasadena, Calif. (AP Photo/Chris Pizzello)
The Palisades Fire ravages a neighborhood amid high winds in the Pacific Palisades neighborhood of Los Angeles, Wednesday, Jan. 8, 2025. (AP Photo/Damian Dovarganes)
A wildfire-ravaged property is shown after the Palisades Fire swept through in the Pacific Palisades neighborhood of Los Angeles, Wednesday, Jan. 8, 2025. (AP Photo/Damian Dovarganes)
A man walks his bike among the ruins left behind by the Palisades Fire in the Pacific Palisades neighborhood of Los Angeles, Wednesday, Jan. 8, 2025. (AP Photo/Damian Dovarganes)
The Eaton Fire burns vehicles and structures Wednesday, Jan. 8, 2025 in Altadena, Calif. (AP Photo/Nic Coury)
A resident of a senior center is evacuated as the Eaton Fire approaches Tuesday, Jan. 7, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
A resident of a senior center is evacuated as the Eaton Fire approaches Tuesday, Jan. 7, 2025 in Altadena, Calif. (AP Photo/Ethan Swope)
The Palisades Fire burns a residence in the Pacific Palisades neighborhood of Los Angeles, Tuesday, Jan. 7, 2025. (AP Photo/Ethan Swope)
A firefighter battles the Palisades Fire as it burns a structure in the Pacific Palisades neighborhood of Los Angeles, Tuesday, Jan. 7, 2025. (AP Photo/Ethan Swope)
