LOYAL3 Launches First Customer Stock Ownership Plan

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  Published in House and Home on Wednesday, May 23rd 2012 at 5:50 GMT by Market Wire
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LOYAL3 Launches First Customer Stock Ownership Plan -- NEW YORK, May 23, 2012 /PRNewswire/ --

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Making Stock Ownership Easy and Affordable for All Consumers

Fifth & Pacific Companies, Inc. Is the First Client to Enable Consumers to Buy Stock Directly Via Brand Facebook Pages and Pay No Fees, Ever.

NEW YORK, May 23, 2012 /PRNewswire/ -- LOYAL3 today launched the world's first Customer Stock Ownership Plan™ (CSOP™), a web and social media platform that enables consumers to buy stock in their favorite brands on Facebook and the web in just 3 clicks, investing as little as $10 and paying no fees, ever.  The first mover on this initiative is Fifth & Pacific Companies, Inc. (NYSE: [ FNP ]) with the CSOP available on the Facebook pages of the brands owned by Fifth & Pacific Companies' including kate spade new york, Lucky Brand, Juicy Couture and Jack Spade as well as on the company's website: [ www.fifthandpacific.com ].

Barry Schneider, CEO, LOYAL3, said, "Fifth & Pacific is an amazing company and we're thrilled to have them as our partner.  We couldn't ask for a more exciting set of brands to show consumers what it means to own the brands they love.  People care more about the things they own than things they don't, so when consumers become owners, great things happen."

"CSOPs provide access for the 82% of Americans who are not directly invested in companies.  Our platform seeks to democratize the markets, making stock ownership possible for tens of millions of everyday people.  CSOPs empower the 99%, which is why we're committed to a core principle of no fees, ever," continued Mr. Schneider.

William L. McComb, CEO, Fifth & Pacific Companies, Inc., said, "The CSOP is an innovation that deepens engagement between our world-class brands and their consumers.  We think this platform will help create a greater sense of community.  This is simply a huge idea – what could possibly generate more loyalty than ownership?"

Chris Kelly, Director of LOYAL3, says further, "A CSOP is the next natural evolution of the social world.  We call it the Ultimate LIKE Button and look forward to giving consumers an opportunity to express their loyalty to brands with a positive economic payoff."

The CSOP utilizes patents-pending micro-payment technology, processing large amounts of small transactions cost-effectively, within a highly scalable architecture.  CSOPs eliminate significant transactional costs and companies pay the remaining costs, making stock ownership easy and affordable for large numbers of first-time investors. 

For a demonstration of how the Fifth & Pacific Companies, Inc. CSOP works, view video: [ Fifth & Pacific CSOP Demo powered by LOYAL3 ].

Consumers will now be able to purchase shares of Fifth & Pacific Companies, Inc. via direct links located on the Fifth & Pacific Companies, kate spade new york, Lucky Brand, Juicy Couture and Jack Spade Facebook pages as well as [ http://fifthandpacific.com ].

About LOYAL3
LOYAL3 offers public companies a web and social media platform called a Customer Stock Ownership Plan™ (CSOP™) that enables public companies and IPO issuers the opportunity to sell stock directly to customers from their Facebook page or website in just 3 clicks, in increments as low as $10 and pay no fees, ever. The LOYAL3 group of companies includes LOYAL3 Holdings, Inc., the parent company; LOYAL3 Labs, Inc.; and a registered broker dealer, LOYAL3 Securities, Inc.  For more information on the loyalty effect of stock ownership, visit [ www.loyal3.com ] or see [ Ownership Changes Everything ].

About Fifth & Pacific Companies, Inc. 
Fifth & Pacific Companies, Inc. (formerly Liz Claiborne Inc.) designs and markets a portfolio of retail-based, premium, global lifestyle brands including Juicy Couture, kate spade, and Lucky Brand. In addition, the Adelington Design Group, a private brand jewelry design and development group, markets brands through department stores as well as serves jcpenney via exclusive supplier agreements for the Liz Claiborne and Monet jewelry lines and Kohl's via an exclusive supplier agreement for Dana Buchman jewelry. The Company also has licenses for the Liz Claiborne New York brand, available at QVC and Lizwear, which is distributed through the club store channel. Fifth & Pacific Companies, Inc. maintains an 18.75% stake in Mexx, a European and Canadian apparel and accessories retail-based brand. Visit [ www.fifthandpacific.com ] for more information.

Fifth & Pacific Companies, Inc. Forward-Looking Statements
This press release contains certain statements that are not historical facts, including, importantly, information concerning possible or assumed future results of operations of Fifth & Pacific Companies, Inc. (the "Company"). Those statements, as well as statements preceded by, followed by, or that include the words or phrases such as "intend," "anticipate," "plan," "estimate," "target," "forecast," "project," "expect," "believe," "we are optimistic that we can," "current visibility indicates that we forecast" or "currently envisions," or the negation thereof, or similar phrases, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Reform Act"). All statements that address future operating, financial or business performance; strategies or expectations; future synergies, efficiencies or overhead savings; anticipated costs or charges; future capitalization; and anticipated financial impacts of recent or pending transactions are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on our expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. Our actual results, performance and achievements may differ materially from any future results, performance or achievements expressed or implied by our forward-looking statements. For all of our forward-looking statements, we claim the protection of the safe harbor for forward looking statements contained in the Reform Act. Many important factors could affect our future results and could cause those results to differ materially from those expressed in, or implied by our forward-looking statements. Such factors, all of which are difficult or impossible to predict accurately, and many of which are beyond our control, include, but are not limited to, the following:

• our ability to continue to have the necessary liquidity, through cash flows from operations and availability under our amended and restated revolving credit facility, may be adversely impacted by a number of factors, including the level of our operating cash flows, our ability to maintain established levels of availability under, and to comply with the financial and other covenants included in, our amended and restated revolving credit facility and the borrowing base requirement in our amended and restated revolving credit facility that limits the amount of borrowings we may make based on a formula of, among other things, eligible accounts receivable and inventory and the minimum availability covenant in our amended and restated revolving credit facility that requires us to maintain availability in excess of an agreed upon level;
• general economic conditions in the United States, Europe and other parts of the world, including the impact of debt reduction efforts in the United States;
• levels of consumer confidence, consumer spending and purchases of discretionary items, including fashion apparel and related products, such as ours;
• restrictions in the credit and capital markets, which would impair our ability to access additional sources of liquidity, if needed;
• changes in the cost of raw materials, labor, advertising and transportation which could impact prices of our products;
• our dependence on a limited number of large US department store customers, and the risk of consolidations, restructurings, bankruptcies and other ownership changes in the retail industry and financial difficulties at our larger department store customers;
• our ability to successfully implement our long-term strategic plans, including the focus on our JUICY COUTURE, LUCKY BRAND and KATE SPADE brands and expansion into markets outside of the US, such as KATE SPADE's joint venture in China;
• risks associated with the transition of the MEXX business to an entity in which we hold a minority interest and the possible failure of such entity that may make our interest therein of little or no value and risks associated with the ability of the majority shareholder to operate the MEXX business successfully, which will impact the potential value of our minority interest;
• costs associated with (i) the transition of the LIZ CLAIBORNE family of brands, MONET US, DANA BUCHMAN, KENSIE and MAC & JAC brands from the Company to their respective acquirers and (ii) the early termination and transition of the DKNY® Jeans and DKNY® Active licenses;
• our ability to sustain recent performance in connection with our LUCKY BRAND product offering and our ability to revitalize our JUICY COUTURE creative direction and product offering;
• our ability to anticipate and respond to constantly changing consumer demands and tastes and fashion trends, across multiple brands, product lines, shopping channels and geographies;
• our ability to attract and retain talented, highly qualified executives, and maintain satisfactory relationships with our employees;
• our ability to adequately establish, defend and protect our trademarks and other proprietary rights;
• our ability to successfully develop or acquire new product lines or enter new markets or product categories, and risks related to such new lines, markets or categories;
• risks associated with the sale of the LIZ CLAIBORNE family of brands to J.C. Penney Corporation, Inc. ("JCPenney") and the licensing arrangement with QVC, Inc. ("QVC"), including, without limitation, our ability to maintain productive working relationships with these parties and possible changes or disputes in our other brand relationships or relationships with other retailers and existing licensees as a result;
• the impact of the highly competitive nature of the markets within which we operate, both within the US and abroad;
• our reliance on independent foreign manufacturers, including the risk of their failure to comply with safety standards or our policies regarding labor practices;
• risks associated with our buying/sourcing agreement with Li & Fung Limited ("Li & Fung"), which results in a single third party foreign buying/sourcing agent for a significant portion of our products;
• risks associated with the closing of our Ohio distribution center and our US distribution services agreement with Li & Fung, which results in a single third party service provider for a significant portion of our US distribution and our ability to effectively transition our distribution function to Li & Fung within our expected timeline;
• a variety of legal, regulatory, political and economic risks, including risks related to the importation and exportation of product, tariffs and other trade barriers;
• our ability to adapt to and compete effectively in the current quota environment in which general quota has expired on apparel products, but political activity seeking to re-impose quota has been initiated or threatened;
• our exposure to currency fluctuations;
• risks associated with material disruptions in our information technology systems;
• risks associated with privacy breaches;
• risks associated with credit card fraud and identity theft;
• risks associated with third party service providers, both domestic and overseas, including service providers in the area of e-commerce;
• limitations on our ability to utilize all or a portion of our US deferred tax assets if we experience an "ownership change"; and
• the outcome of current and future litigation and other proceedings in which we are involved.

All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect us. We assume no obligation to update any forward-looking statements in this prospectus or any applicable prospectus supplement, including the documents incorporated by reference herein or therein, as a result of new information, future events or developments, except as required by Federal securities laws. In addition, we do not endorse any projections regarding future performance that may be made by third parties.

SOURCE LOYAL3

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