Liz and Narciso Part Ways

Liz Claiborne and designer Narciso Rodriguez have agreed to part ways. The two companies formed a business relationship in May of 2007, with Claiborne acquiring 50% ownership in the company. Now with the termination, Rodriguez regains full ownership over his company that he founded in '97. "Initially we both saw significant opportunities to develop the collection in multiple product categories, channels and geographies, but differences emerged as to how best to achieve this organic growth, and we have decided to terminate our business relationship by mutual agreement," said William McComb, Liz Claiborne's chief executive, in a statement.