Can Juicy Couture become fashionable again?

Why Juicy Couture is set for a comeback in 2015

Juicy Couture – famous for making rhinestone-studded, velour tracksuits in the early 2000s – has fallen off the fashion radar, but its new owner Authentic Brands Group (ABG) is confident it can put the brand back on the map.

"As far as the creative goes, we'll be focusing on California, fun, flirty lifestyle that Juicy Couture was once known for as we build the brand back. And we'll also be focusing on certain celebrities and certain special designers that will come in from time to time," said James Salter, chairman and CEO of New-York-based brand development and licensing company ABG.

"They [Juicy] really lost the entrepreneurship in the brand and passion, and it's very important we bring that back," he added.

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ABG acquired the label from parent company Fifth & Pacific for $195 million last October. It will officially take over ownership on July 1.

All of its U.S. stores will be closed by the end of summer and replaced with new concept outlets in high-traffic areas like New York City and Los Angeles beginning in 2015.

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"We're going to go out with the old and in with the new – we are focusing on new stores starting in New York, where we will be building the world of Juicy," Salter said.

Juicy will establish more street-level stores to give the brand more exposure as the majority of its current outlets are hidden in indoor malls, he said.

Another big focus will be growing the Juicy brand in international markets, especially Asia, where it is already "booming", says Salter.

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Juicy currently has 200 international retail locations, and plans to add another 127 stores and shops in shops globally over the next 5 years.

The company also plans to grow its premium Black Label collection with new offerings in in intimates, kidswear and footwear.