Catalyst Brands is a joint venture formed via an all-equity transaction between JCPenney and SPARC Group, along with shareholders Authentic Brands Group, Brookfield, Shein, and Simon Property Group.

The company launches with more than $9 billion of revenue, 1,800 store locations, 60,000 employees, and $1 billion of liquidity, and its combined brands have served over 60 million customers over the past three years.

Marc Rosen will be CEO of Catalyst Brands, with three brand CEOs reporting to him: Michelle Wlazlo, former chief merchandising and supply chain officer at JCPenney; Natalie Levy, continuing her role as brand CEO of Aéropostale, Lucky Brand and Nautica; and Ken Ohashi, who will continue leading Brooks Brothers and assume responsibility for Eddie Bauer.

“Taking this collective expertise and going from mono-brand to multi-brand can really leverage our scale,” Thalberg told ADWEEK. “Each individual banner will continue to find the best versions of themselves in the marketplace.”

Former Walmart executive Kevin Harper will join Catalyst Brands as chief operating officer, and the company will be based out of JCPenney’s current headquarters in Plano, Texas, with offices in Los Angeles, New York, and Seattle.

“Our relationships with more than 60 million customers and the deep data we have create a compelling consumer value proposition across our brands,” Rosen said in a statement. “We can design a more personalized shopping experience, offer unified loyalty and credit card programs, and ultimately, cross-sell more effectively. That’s one example of the many benefits we’ll see in this combination. With a clean balance sheet, we’re in great position to move forward.”