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Authentic Brands Group acquires Jones New York
Apr '15
Authentic Brands Group (ABG), a marketer of several fashion, sports and lifestyle brands said it has acquired 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,” ABG said in a press release.

With an active and loyal consumer following, Jones New York generates close to $1 billion in sales across the US as well as key global markets including Canada, Europe, the Middle East and Latin America.

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.

Jones New York has had an important position in men's tailored clothing, sportswear, and accessories, 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 and Canada for key categories that will be launched in Spring 2016.

As part of this acquisition, ABG also announced the appointment of Mark Weber as strategic advisor whose immediate focus will be on the Jones New York brand.

Weber served as both President and CEO of PVH Corp, and most recently, served an 8-year term as CEO of LVMH, Inc.

At LVMH, Weber was a member of the executive committee in Paris overseeing a number of businesses, most notably serving as CEO of Donna Karan International and Thomas Pink.

"I am excited to get involved with the leadership team at ABG and I believe my experience in the luxury fashion sector will be a valuable asset that can be leveraged across ABG's brand portfolio," Mark Weber said.

"We are honoured to welcome Jones New York to ABG's distinguished women's portfolio," said Jamie Salter, CEO of ABG.

"With a 40 year history of iconic and timeless design, Jones New York embodies American style and our vision fuses ABG's passion for brand building with an approach that will redefine this enduring classic," Salter added.

“Jones New York has a long-standing position as an iconic American brand through best-in-class licensing and retail partners," said Nick Woodhouse, president of ABG.

"We see great opportunity for this powerhouse brand and are implementing a strategy that is fueled by partnerships, innovative design, and distribution,” he too added. (AR)

Fibre2fashion News Desk - India

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