As part of the overhaul announced in July, New York-based fashion apparel designer Liz Claiborne Inc is to sell four of its brands – Emma James, Intuitions, JH Collectibles and Tapemeasure – to the US arm of Li & Fung Ltd. The four brands are currently worth $150 million in collective annual sales.

The Hong Kong-based sourcing and trading company is hoping to expand its international distribution operations and reports indicate that the acquisition of Tommy Hilfiger’s global sourcing operations could also be on its agenda. Li & Fung will acquire $30mil in inventory and assets as a result of the Liz Claiborne deal but, according to president of the company’s trading arm, Bruce Rockowitz, no cash will change hands. He explained that the four brands will be taken on by a specific retailer and “repositioned in the market as proprietary brands”.

The company is also planning to sell other brands in order to cater for a younger audience through a heightened focus on its higher-end brands, such as Mexx, Kate Spade, Juicy Couture and Lucky Brand Jeans.