JCPenney has merged with Sparc Group to form Catalyst Brands, bringing together six major retail banners: Aéropostale, Brooks Brothers, Eddie Bauer, Lucky Brand, Nautica, and JCPenney.

The joint venture begins with more than $9 billion in annual revenue, 1800 store locations, and $1 billion in liquidity. It has recently sold the US operations of Reebok and is exploring options for Forever 21.

Marc Rosen – former CEO of JCPenney –  is now the CEO of Catalyst Brands. Michelle Wlazlo has been promoted to brand CEO of JCPenney, while Natalie Levy continues to oversee Aéropostale, Lucky Brand, and Nautica. 

Meanwhile, Ken Ohashi now leads Brooks Brothers and Eddie Bauer as brand CEO. Additional leadership appointments include Kevin Harper as COO and Marisa Thalberg as chief customer and marketing officer.

“Catalyst Brands combines the heritage of six distinct brands with a modern approach,” said Rosen. 

“Our focus is on providing high-quality fashion and style for every moment in life. With scale, expertise, and talented teams, we are positioned to grow our brands and connect with more customers nationwide.”