VF Corporation has decided to look for a new owner for Nautica, which was reclassified as a “discontinued operation” in its results for the fourth quarter of 2017, says Bloomberg. With its bright colors, big logos and oversized garments, the brand became popular in the 1990s, but it has since lost its aura. VF bought the brand in 2003 for $585.6 million. It will report a writeoff of $130.2 million for the brand, which generated a loss of $95.2 million.

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