The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group, Inc. Names Jay Friedman Chief Executive Officer, Company-Owned Retail Footwear and Apparel
NEW YORK, Aug. 18 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY), ("Jones") today announced that Jay Friedman (56) has been
promoted to Chief Executive Officer of Company-Owned Retail Footwear and
Apparel. Mr. Friedman, who previously served as President, Company-Owned
Retail Footwear and Apparel, will continue to report to Andrew Cohen, Chief
Executive Officer, Footwear, Accessories and Retail.
Wesley R. Card, Jones Apparel Group President and Chief Executive Officer,
stated, "Jay is a talented merchant, effective leader and a seasoned retail
executive with over 30 years of experience. Jay is a key member of our senior
management team, and I am pleased with all that he and his team have
accomplished to date to begin the turnaround of our retail operations."
Mr. Cohen said, "Under Jay's leadership, the team has implemented a number
of initiatives to improve the performance of the retail chain, including
enhancing merchandise assortments throughout our stores and remodeling and
refreshing our store environments to enhance the consumer's overall shopping
experience. I congratulate him on this well-deserved promotion."
About Jones Apparel Group, Inc.
Jones Apparel Group, Inc. (http://www.jonesapparel.com) is a leading
designer, marketer and wholesaler of branded apparel, footwear and
accessories. The Company also markets directly to consumers through its chain
of specialty retail and value-based stores. The Company's nationally
recognized brands include Jones New York, Nine West, Anne Klein, Gloria
Vanderbilt, Kasper, Bandolino, Easy Spirit, Evan-Picone, l.e.i., Energie, Enzo
Angiolini, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack,
Albert Nipon and Le Suit. The Company also markets costume jewelry under the
Givenchy brand licensed from Givenchy Corporation, footwear under the Dockers
Women brand licensed from Levi Strauss & Co and apparel under the Rachel Roy
brand licensed from Rachel Roy IP Company, LLC. Each brand is differentiated
by its own distinctive styling, pricing strategy, distribution channel and
target consumer. The Company contracts for the manufacture of its products
through a worldwide network of quality manufacturers. The Company has
capitalized on its nationally known brand names by entering into various
licenses for several of its trademarks, including Jones New York, Evan-Picone,
Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select
manufacturers of women's and men's products which the Company does not
manufacture. For more than 30 years, the Company has built a reputation for
excellence in product quality and value, and in operational execution.
SOURCE Jones Apparel Group, Inc.
/CONTACT: Investors, John T. McClain, Chief Financial Officer of Jones
Apparel Group, +1-212-642-3860; Media, Joele Frank or Sharon Stern, both of
Joele Frank, Wilkinson Brimmer Katcher, +1-212-355-4449/
/Web site: http://www.jonesapparel.com /