ABG Acquires Jones New York

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.

The Luxonomist. 24/04/2015
Jones New York
Jones New York. Click to buy

Authentic Brands Group, LLC(ABG), owner of a global portfolio of iconic fashion, sports and lifestyle, celebrity, media and entertainment brands, announced today 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 billionin retail sales.

«We are honored to welcome Jones New York to ABG’s distinguished Women’s portfolio,» saidJamie Salter, Chairman and CEO of ABG. «With a 40 year history of iconic and timeless design, Jones New York embodies American style. Our vision fuses ABG’s passion for brand building with a 21st century approach that will redefine this enduring classic.»

JonesNew Yorkis an esteemed American brand renown for its reputation of excellence in design, quality and style. With an active and loyal consumer following, today the brand drives close to$1Bin retail sales across department stores in the US as well as key international markets includingCanada,Europe, theMiddle EastandLatin America.

Jones New York 3
«Drape Neck Dress» by Jones New York. Click to buy

«Jones New York has a long-standing position as an iconic American brand through best-in-class licensing and retail partners,» saidNick Woodhouse, President and CMO of ABG. «We see great opportunity for this powerhouse brand and are implementing a strategy that is fueled by partnerships, innovative design, and distribution. Jones has a deep-rooted American heritage that we are excited to leverage on a global scale.»

As part of this important acquisition ABG announces the appointment ofMark Weberas 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 Hennessey). At LVMH, Inc. Weber was a member of the executive committee inParisoverseeing a number of businesses, most notably serving as Chairman and CEO of Donna Karan International,Thomas Pink. «I am excited to get involved with the leadership team at ABG,» saidMark Weber. «I believe my experience in the luxury fashion sector will be a valuable asset that can be leveraged across ABG’s brand portfolio.»

Jones New York 2
«Boat Neck Fit and Flare Dress» by Jones New York. Click to buy

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. There will be a strong emphasis on women’s apparel and accessories. Jones New York has had an important position in men’s tailored clothing, sportswear, and accessories as well, which will also play an important role in its global growth plans. ABG is preparing to announce a new long-term, strategic partner in the US andCanadafor key categories that will launch at retail in spring 2016.

InJanuary 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. Terms of the sale of the Jones New York brand to ABG were not disclosed.

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