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Jones Apparel to expand Rachel Roy Brand
12 Jun '08
3 min read
Jones Apparel Group Inc announced that it has formed a joint venture with Rachel Roy, Damon Dash and TSM Capital, LLC to develop, market and license the New York-based fashion brand, Rachel Roy. Under the terms of the agreement, Jones owns 50% of the joint venture interest.
The remaining interest is owned by the two founders, Rachel Roy and Damon Dash, as well as TSM Capital which acquired a minority stake in the business last November. Jones will assume operations of the existing designer collection business under license with the new joint venture.
Rachel Roy launched her label in spring of 2005. Effortlessly elegant and modern are adjectives that can be used to describe both the collection and the woman, Rachel Roy. With striking silhouettes, a refined color palette and inventive pairings that transition from day to evening, Rachel Roy embodies everything for women who embrace fashion and dress with confidence and sophistication.
The line is currently available in premier luxury department and select specialty stores in the United States, including Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks, and internationally in the United Kingdom, Hong Kong, the United Arab Emirates, Kuwait, South Korea, Canada, Turkey and Indonesia.
Wesley R. Card, Jones Apparel Group President and Chief Executive Officer, said, "Rachel Roy is a gifted design talent and represents the new wave of modern fashion. We look forward to working closely with Rachel and Marvin's team as we invest in the Designer business and explore opportunities to broaden her reach to a larger audience. We see tremendous opportunity in Rachel Roy as a designer and brand; we welcome her and her team to Jones."
The remaining interest is owned by the two founders, Rachel Roy and Damon Dash, as well as TSM Capital which acquired a minority stake in the business last November. Jones will assume operations of the existing designer collection business under license with the new joint venture.
Rachel Roy launched her label in spring of 2005. Effortlessly elegant and modern are adjectives that can be used to describe both the collection and the woman, Rachel Roy. With striking silhouettes, a refined color palette and inventive pairings that transition from day to evening, Rachel Roy embodies everything for women who embrace fashion and dress with confidence and sophistication.
The line is currently available in premier luxury department and select specialty stores in the United States, including Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks, and internationally in the United Kingdom, Hong Kong, the United Arab Emirates, Kuwait, South Korea, Canada, Turkey and Indonesia.
Wesley R. Card, Jones Apparel Group President and Chief Executive Officer, said, "Rachel Roy is a gifted design talent and represents the new wave of modern fashion. We look forward to working closely with Rachel and Marvin's team as we invest in the Designer business and explore opportunities to broaden her reach to a larger audience. We see tremendous opportunity in Rachel Roy as a designer and brand; we welcome her and her team to Jones."
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