Liz Claiborne Inc, which sold its namesake brand last year, is changing its name to Fifth & Pacific Companies in a nod to the fashion hubs of New York and California.

Shares in the company, whose main remaining brands are Juicy Couture, kate spade and Lucky Brand, will begin trading as Fifth & Pacific Companies Inc under the ticker "FNP" on the New York Stock Exchange after the name change, which the company said on Wednesday should take place around May 15.

The move follows a spate of name changes among top fashion brands and retailers in the last 15 months.

In October 2010, Jones Apparel became Jones Group Inc to reflect its bigger push into footwear and luxury. In March 2011, Ann Inc dropped "Taylor" from its name, and three months later, Phillips-Van Heusen Corporation was formally renamed PVH Corp. Ralph Lauren dropped the "Polo" from its corporate name in August.

Liz Claiborne sold, licensed, or closed several underperforming brands in recent years and switched its attention to its own retail stores and upmarket brands.

Last year in September, the company sold its global Mexx business and in October sold its Liz Claiborne and Monet brands to J.C. Penney Co Inc for $267.5 million.

Streamlining helped the company post a surprise adjusted quarterly profit in November. In the past year, the debt-laden company completed five transactions that raised a total of $471 million.

Liz Claiborne shares were up 3 percent to $8.87 in morning trading on the New York Stock Exchange.