SPARC Group Has Merged With JCPenney to Form Catalyst Brands

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SPARC Group Has Merged With JCPenney to Form Catalyst Brands

2025-01-09 05:27 Last Updated At：05:42

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.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250108232559/en/

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).

Iran fires missiles at Israel and Gulf neighbors as Trump talks of winding down Mideast war

DUBAI, United Arab Emirates (AP) — Iran fired more missiles at Israel and Gulf Arab states Thursday, demonstrating Tehran’s continued ability to attack even as U.S. President Donald Trump claimed the threat from the country was nearly eliminated and predicted the war would end soon.

Iran’s strikes on its neighbors along with its chokehold on the Strait of Hormuz have disrupted the world’s energy supplies with effects far beyond the Middle East. That has proved to be Iran’s greatest strategic advantage in the war. Britain planned to hold a call with nearly three dozen countries about how to reopen the strait, through which 20% of all traded oil passes in peacetime, once the fighting is over.

Trump has insisted the strait, which was open to traffic before the U.S. and Israel launched their war on Iran, can be taken by force — but said it is not up to the U.S. to do that. In his address to the American people Wednesday night, he encouraged countries that depend on oil passing through Hormuz to “build some delayed courage” and go “take it.”

Iran responded defiantly to Trump’s speech, in which the American president claimed U.S. military action had been so decisive that “one of the most powerful countries” is “really no longer a threat.”

A spokesman for Iran’s military insisted Thursday that Tehran maintains hidden stockpiles of arms, munitions and production facilities. “The centers you think you have targeted are insignificant, and our strategic military productions take place in locations of which you have no knowledge and will never reach,” Lt. Col. Ebrahim Zolfaghari claimed.

Just before Trump began his address — in which he said U.S. “core strategic objectives are nearing completion” — explosions were heard in Dubai as air defenses worked to intercept an Iranian missile barrage.

Less than a half-hour after the president was done, Israel said its military was also working to intercept incoming missiles. Sirens sounded in Bahrain, home to the U.S. Navy’s 5th Fleet, immediately after the speech.

Attacks continued across Iran on Thursday, with strikes reported in multiple cities.

More than 1,900 people have been killed in Iran during the war, while 19 have been reported dead in Israel. More than two dozen people have died in Gulf states and the occupied West Bank, while 13 U.S. service members have been killed.

More than 1,200 people have been killed and more than 1 million displaced in Lebanon, home to Iran-backed Hezbollah militants who are fighting Israel, which has launched a ground invasion. Ten Israeli soldiers have also died there.

Iranian attacks on some two dozen commercial ships, and the threat of more, have halted nearly all traffic in the waterway that connects the Persian Gulf to the open ocean.

The 35 countries speaking Thursday, including all G7 industrialized democracies except the U.S., as well as the United Arab Emirates and Bahrain, signed a declaration last month demanding Iran stop blocking the strait. British Prime Minister Keir Starmer said the countries will discuss “viable diplomatic and political measures” to resume shipping.

But no country appears willing to try to open the strait by force while the war is raging. There is a concern that Iran might limit traffic through the strait even after U.S. and Israeli attacks on it cease.

The idea of an international effort has echoes of the “coalition of the willing,” led by the U.K. and France, that was assembled to underpin Ukraine’s security in the event of a ceasefire in that war. The coalition is, in part, an attempt to demonstrate to Washington that Europe is doing more for its own security in the face of frequent criticism from Trump.

The U.S. has presented Iran with a 15-point plan for a ceasefire, but Trump didn’t say anything in his speech about the diplomatic efforts or bring up his April 6 deadline for Iran to reopen the Strait of Hormuz or face severe retaliation.

The conflict is driving up prices for oil and natural gas, roiling stock markets, pushing up the cost of gasoline and threatening to make a range of goods, including food, more expensive.

On Thursday, Brent crude, the international standard, rose again and was at $108 in spot trading, up about 50% from Feb. 28 when Israel and the U.S. started the war.

Though the oil and gas that typically transits the strait is primarily sold to Asian nations, Japan and South Korea were the only two countries from the region joining Thursday's call about the strait. The supply of jet fuel has also been interrupted by the conflict, with consequences for travel worldwide.

Weissert reported from Washington and Rising from Bangkok.