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Friday, April 24, 2015

Authentic Brands Buys Jones New York

Authentic Brands Group, LLC (ABG), owner of a global portfolio of iconic fashion, sports and lifestyle, celebrity, media and entertainment brands, announced yesterday the purchase of American fashion brand, Jones New York. The acquisition marks a new milestone in the company’s growth, propelling the ABG portfolio to more than $4.5 billion in retail sales.

Jones New York is an esteemed American brand renowned for its reputation of excellence in design, quality and style. With an active and loyal consumer following, today the brand drives close to $1B in retail sales across department stores in the US as well as key international markets including Canada, Europe, the Middle East and Latin America.

As part of this important acquisition ABG announces the appointment of Mark Weber as Strategic Advisor whose immediate focus will be on the Jones New York brand.   Weber has a storied career having been both President and CEO of PVH Corp, and most recently, served an 8-year term as CEO of LVMH, Inc. (Louis Vuitton Moet Hennessy).

ABG’s initial focus for Jones New York will be the development of its strategic positioning, enhancing core values, and rebuilding the brand to its former prominence.

In January 2015, Jones New York, a portfolio company of private equity firm Sycamore Partners, announced that it was pursuing strategic alternatives for the Jones New York brand and, in conjunction with this action, is closing its retail locations and certain related business operations over the course of 2015.

Learn more about Jones Apparel Group here on the Apparel Search fashion industry guide.

Thank you for taking the time to read our fashion industry blog post. We hope that you have found this news to be informative. If you have comments or questions, please add your thoughts in the discussion area below.

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