JCPenney , the exclusive retailer of Liz Claiborne since 2009, is celebrating the fashion brand’s 50th birthday by launching a special 80-piece Liz Claiborne capsule collection on May 8. “This will capture Liz’s fearless design ethos,” said Michelle Wlazlo, JCPenney ’s chief executive officer. Among the items in the collection: power blazers, versatile pleated trousers suitable to wear from the office to dinner, statement sweater vests layered for various occasions and A-line skirts engineered for “real bodies and real moments.” All of the items are designed for mixing and matching, offered in Penney’s inclusive size range and priced under $100. Included are the reds, blacks, whites and navy colors that Claiborne loved. “She always had on her iconic black or red glasses and she always had a red manicure. That’s why this color palette was chosen,” Wlazlo said.…