Catalyst Brands will operate at the current corporate location of JCPenney in Plano.
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JCPenney has merged with another company to create a retail powerhouse based in Dallas-Fort Worth.
The North Texas chain and Sparc Group LLC announced Jan. 8 they had combined to form Catalyst Brands, which is comprised of six brands. The joint venture brought together Sparc Group’s Aeropostale, Brooks Brothers, Eddie Bauer, Lucky Brand and Nautica with JCPenney and its private brands, including Stafford, Arizona and Liz Claiborne.
Catalyst Brands launches with more than $9 billion of revenue, 1,800 locations, 60,000 employees and $1 billion of liquidity, according to the announcement. The portfolio company was formed in an all-equity transaction between JCPenney and Sparc Group, with Simon Property Group , Brookfield Corp., Authentic Brands Group and Shein as shareholders.
Sparc Group was a joint venture between Authentic Brands and mall owner Simon to buy and reenergize struggling retail brands.
Catalyst Brands will operate at the current corporate location of JCPenney in Plano at 6501 Legacy Dr. The company returned to its former HQ space in 2022 after vacating in 2020 following bankruptcy. The newly formed Catalyst Brands will occupy 320,000 square feet of space.
Former JCPenney CEO Marc Rosen will helm Catalyst Brands as chief executive. As part of the deal, three brand CEOs have been appointed to help oversee the portfolio and report to Rosen.
“Catalyst Brands brings together the rich heritage of six unique brands with modern energy and a new vision for success,” Rosen said in a statement. “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.”
Michelle Wlazlo, formerly JCPenney’s chief merchandising and supply chain officer, will serve as that brand’s CEO. Natalie Levy will oversee Aeropostale, Lucky Brand and Nautica, and Ken Ohashi will continue to lead Brooks Brothers, in addition to Eddie Bauer.
“With a clean balance sheet, we’re in a great position to move forward,” Rosen said.