The giant U.S. clothing manufacturer said it would buy the Narciso Rodriguez name and trademarks and form a new company to develop the brand worldwide with Rodriguez as creative director.
Claiborne did not disclose the price. The New York Times said it was $12 million.
"This is a totally different kind of deal than those we have done in the past," Claiborne Chief Executive William McComb said. "Unlike acquisitions of fully scaled businesses, here we are affiliating with one of the world's finest designers to organically build a broad business in a growing and profitable category that we do not currently operate in -- the luxury designer segment -- that is sold in productive and partnership-oriented upscale retailers."
McComb said Claiborne intended keep Rodriguez's clothes at the designer price range, add new products such as accessories and bathing suits and open shops.
"Further, we see potential in the direct-to-consumer channel on a worldwide basis," McComb said.
The company estimated revenues of more than $100 million by 2012.