American apparel giant Liz Claiborne ( today announced it will be selling Laundry By Design and C&C California to Perry Ellis - for approximately $37 million in cash.

The company will now focus attentions on the future of its more commercially profitable and fast-growing labels Juicy Couture, Lucky Brand Jeans, Kate Spade and Mexx, and has also decided to retain Enyce, which had previously been put up for auction.

Liz Claiborne has undergone a continuous staffing and structural reshuffle in recent years, and the divestitures are part of a strategic review process announced in the summer of 2007. The company has also recently sold Emma James, Intuitions, JH Collectibles and Tapemeasure brands to Li & Fung USA. It is expected that future plans for brands Dana Buchman, Ellen Tracy, Kensie, Mac & Jac, and prAna will also be made known by the end of the first quarter of 2008.

Pictured above, Liz Claiborne's founder and namesake