J.C. Penney is entering a new era as it merges with Sparc Group to form Catalyst Brands, a powerhouse that brings together several once-iconic retailers under one umbrella.
Sparc Group, which already manages Aéropostale, Brooks Brothers, and Eddie Bauer under a licensing deal with Authentic Brands Group, will now oversee J.C. Penney as well. While Sparc also operates Forever 21, the company has announced plans to sell that business in the near future.
The ownership of Catalyst Brands will remain with Authentic Brands Group, alongside mall operators Simon Property Group and Brookfield Corporation, as well as Chinese e-commerce giant Shein. These firms originally acquired J.C. Penney in 2020 after the struggling retailer filed for Chapter 11 bankruptcy. Analysts speculate that the move was a strategic attempt to preserve J.C. Penney’s role as a crucial anchor tenant in shopping malls.
Marc Rosen, J.C. Penney’s CEO since 2021, has been appointed CEO of Catalyst Brands and will oversee its growing retail portfolio. Michelle Wlazlo, previously J.C. Penney’s chief merchandising and supply chain officer, has been promoted to CEO of the department store chain. Other key leadership positions include Natalie Levy as brand CEO of Aéropostale, Lucky, and Nautica, while Ken Ohashi will continue leading Brooks Brothers and take on oversight of Eddie Bauer.
Adding retail heavyweight experience to the team, Kevin Harper, formerly a senior vice president at Walmart, has joined Catalyst Brands as chief operating officer. Marisa Thalberg, previously J.C. Penney’s consulting chief marketing and brand officer, will serve as Catalyst’s chief customer and marketing officer.
Catalyst Brands enters the market with a strong financial standing—boasting $9 billion in revenue, 1,800 stores, and 60,000 employees.
“This new company has the scale, expertise, and brand appeal to redefine the retail landscape, all while maintaining a strong balance sheet,” Rosen stated.
With headquarters in Plano, Texas—J.C. Penney’s longtime base—Catalyst Brands will also have key offices in New York, Los Angeles, and Seattle. Will this retail transformation bring new life to once-dominant mall brands?