Jones Group (US)
Until its break-up in 2014, Jones Group was one of America's biggest apparel groups, managing a broad portfolio of upscale women's apparel, footwear and accessories brands, mostly positioned within what are termed the moderate and better apparel segments. Sales were split between department stores and the group's own branded retail chains. Key brands included Jones New York, Anne Klein, Rachel Roy and Stuart Weitzman apparel and Nine West, Kurt Geiger and Easy Spirit footwear and accessories. Revenues for 2013 were $3.76bn. However performance had flagged since the 2000s and the business was put up for sale in 2013. It was eventually acquired by investment firm Sycamore Partners, which split the group into six separate companies in Spring 2014. Wesley Card stepped down as CEO at that point. Stuart Weitzman was sold to Coach at the end of 2014; Jones New York was acquired by Authentic Brands Group; Kurt Geiger was acquired by investment fund Cinven in 2015. The remaining brands, led by Nine West, are still owned by Sycamore. Jones Apparel was originally the fashion division of conglomerate WR Grace & Co. It was bought out as a separate company in 1975 by Sidney Kimmel, chairman until its acquisition by Sycamore. Adbrands no longer offers a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Who are the competitors of Jones Group? see Fashion & Accessories Sector
Capsule checked 12th December 2015
Recent stories from Adbrands Weekly Update:
Adbrands Weekly Update 5th Feb 2015: Clothing brand Jones New York - once the core of the diversified Jones Apparel Group, now owned by private equity - is effectively shutting down. Its wholesale operations are being terminated along with its 170 or so retail outlets.
Adbrands Weekly Update 31st Dec 2013: US fashion combine Jones Group is to be acquired by private equity firm Sycamore Partners for $1.2bn plus $1bn in debt. Jones' brands include designers Anne Klein, Stuart Weitzman and Rachel Roy and footwear chains including Nine West and Kurt Geiger. The business is likely to be broken up into its different units, some of which will be sold.
Adbrands Weekly Update 11th Jul 2013: Multibrand fashion company Jones Group hired Citi to begin a strategic review which is likely to lead to a break-up of the business. The company is one of the world's biggest manufacturers of apparel, footwear and accessories within what are termed the moderate and better segments. Its portfolio includes Jones New York, Rachel Roy, Stuart Weitzman, Nine West, Kurt Geiger, LEI and Gloria Vanderbilt. Revenues for 2012 were $3.8bn, but the business reported net losses.
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