Liz Claiborne was once the largest women's brand on the market. The woman herself was not only a fashion pioneer, but a pioneering business executive.
It took the eponymous brand less than 10 years to make it into the Fortune 500, where it continued to set all kinds of firsts.
During the 1970s, 1980s, and 1990s the brand enjoyed immense success. There were rough times, but it always found a way to reinvent itself.
In October of 2006, it made one really poor decision, and since then the company has not turned a profit. Less than two weeks before appointing the 43 year-old William L. McComb as CEO, the brand decided to make clothes for J.C. Penney. Since then, McComb's five-year-plus tenure has seen the stock collapse, and five consecutive years of annual net loss totaling more than $2 billion dollars. And last year Liz Claiborne Inc., the parent company, was forced to sell off many of its brands, including the eponymous Liz Claiborne label.