Blog: Jones gets upscale break
Leonie Barrie | 13 June 2008
The market seemed to like yesterday’s news that Jones Apparel Group Inc has formed a joint venture to develop the Rachel Roy Fashion Brand. Shares rose as the apparel maker said it had finally found a long-awaited entry into the high-end contemporary market.
Upscale lines seems to be the way forward – also this week we saw VF Corp buy into Mo Industries, owner of the Splendid and Ella Moss women’s sportswear brands to complement its fast-growing 7 For All Mankind and Lucy brands.
And the deal means that Jones now has another string to its bow alongside stalwarts such as its Nine West shoes and Gloria Vanderbilt lines. Crucially, though, the new brand extend its reach to growing consumer segments, broaden its presence in healthy and growing retail channels, and of course offers opportunities to expand through global store expansion and new product launches like fragrance, footwear and accessories.
It’s all part of the continuing dynamic to latch on to new opportunities, driven by demand from specialty and department stores for exclusive brands. Jones’ previous foray into the high-end market has been with its Barneys New York retail unit, which it sold to Dubai-based investment firm for $942.3m last summer.
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