Home / Knowledge / News / Apparel/Garments / Jones Apparel acquires Robert Rodriguez brand
Jones Apparel acquires Robert Rodriguez brand
05
Feb '10
Jones Apparel Group, Inc. announced that it has acquired Moda Nicola International, LLC ("MNI"), owner of the Robert Rodriguez Collection, a privately held designer, marketer and wholesaler of women's contemporary eveningwear and sportswear. MNI generated net revenues of approximately $17 million for the year ended December 31, 2009.

The transaction is valued at approximately $28 million. Under the terms of the agreement, Jones made initial cash payments to the selling members of MNI, who are entitled to receive future cash payments upon achievement of certain financial targets set within the agreement. The transaction is expected to be accretive to earnings, prior to any required purchase accounting adjustments and closing costs.

Wesley Card, President and Chief Executive Officer, Jones Apparel Group, said: "Robert Rodriguez is a highly talented and experienced designer and we are excited to welcome Robert and his associates into our family of brands. We believe that now is the right time to be making an acquisition as our core brands and organization are strong, and we are well-positioned for a new phase of growth. Robert Rodriguez will increase our presence in the contemporary market."

Mr. Card added: "Recognized for its unique designs, commitment to elegant fashion and attention to quality and fit, the Robert Rodriguez collection has gained attention from fashion insiders, including buyers, trendsetters and celebrities. We see great potential in this brand and look forward to working with Robert and his team."

Robert Rodriguez, founder and artistic director, said, "I am excited to become part of a dynamic organization such as Jones and to work together to develop the brands to their fullest potential."

Nicola Guarna, Chief Executive Officer, Robert Rodriguez, said, "I look forward to joining the Jones team and to combining the Robert Rodriguez fashion talent with the Jones execution and performance."

Founded in 2003 by designer Robert Rodriguez and business partner Nicola Guarna, the Robert Rodriguez collection quickly gained attention from buyers, celebrities and trendsetters alike for being a feminine, sexy, contemporary label for women of all ages. The Robert Rodriguez collection incorporates the principles of haute couture: focusing on fashion, quality and fit. The collection, which includes Robert Rodriguez, Robert Rodriguez Black Label and Robbi and Nikki, is currently sold at luxury retailers in the U.S. and Europe, such as Bergdorf Goodman, Neiman Marcus, Nordstrom, Saks Fifth Avenue, Bloomingdale's, Fred Segal, Intermix, Shopbop, Holt Renfrew, Harrods, and Lane Crawford, as well as at numerous high-end boutiques nationwide.

Jones Apparel Group Inc


Must ReadView All

Textiles | On 22nd Jun 2017

Zund unveils cradle feeder roll-feed system for fabrics

Zund Systemtechnik AG, Switzerland’s textile machinery firm that...

Textiles | On 22nd Jun 2017

Hpfabrics opening production facility in Forsyth County

Hpfabrics, manufacturer of raw fabrics, is opening a new production...

Courtesy: Napapijri

Apparel/Garments | On 22nd Jun 2017

Napapijri's Superlight Parka is free of fur and down

Napapijri has introduced the new Superlight Parka, a new lightweight...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search