The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group Appoints Mehmet Tangoren Senior Vice President of Product Development, Jeanswear DivisionNEW YORK, July 23, 2009 /PRNewswire-FirstCall via COMTEX/ -- Jones Apparel Group, Inc. (NYSE: JNY), ("Jones") today announced that Mehmet Tangoren has recently been appointed Senior Vice President of Product Development for the Jeanswear Division. In this newly created role, Mr. Tangoren will oversee all product development of the Energie knit division, as well as lend his experience and knowledge to other divisions of the Jones Jeanswear Division. The Jeanswear design staff will report directly to Mr. Tangoren.
Mr. Tangoren brings over 20 years of experience in women's apparel to Jones' Jeanswear Division. Since 2005 and prior to joining Jones, Mr. Tangoren served as Vice President, Divisional Merchandise Manager Modern/Contemporary/Bridge Sportswear of Macy's East and oversaw the rebuilding of the contemporary sportswear business. Previously, Mr. Tangoren had served as Merchandise Manager for apparel, intimates and accessories at Anthropologie; Executive Vice President, Merchandise Manager at Cache Inc.; and Senior Buyer, Contemporary and Advanced Sportswear, Designer Denim, Branded and Private Label Knitwear at Saks Fifth Avenue.
"We are extremely pleased to welcome a seasoned executive like Mehmet, whose expertise in apparel brand development will be an ideal addition to the Jones Jeanswear division," said Jack Gross, Group Chief Executive Officer, Jeanswear Division for Jones Apparel Group. "As part of Jones' commitment to its core brands, Mehmet will initially work with the Energie team to enhance the brand's already strong footprint within the junior market. The Jeanswear Division has been a strong performer in both replenishment and innovative fashion items and we look forward to continuing to grow this business with our core denim brands - Gloria Vanderbilt, l.e.i. and Energie."
About Jones Apparel Group, Inc.
Jones Apparel Group, Inc. (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, Anne Klein New York, Nine West, Gloria Vanderbilt, l.e.i. and Evan-Picone, 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.
Forward Looking Statements
Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words "believes," "expect," "plans," "intends," "anticipates" and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including:
- those associated with the effect of national, regional and international
- lowered levels of consumer spending resulting from a general economic
downturn or lower levels of consumer confidence;
- the tightening of the credit markets and our ability to obtain credit on
- given the uncertain economic environment, the possible unwillingness of
committed lenders to meet their obligations to lend to borrowers, in
- the performance of the Company's products within the prevailing
- customer acceptance of both new designs and newly-introduced product
- the Company's reliance on a few department store groups for large
portions of the Company's business;
- consolidation of the Company's retail customers;
- financial difficulties encountered by customers;
- the effects of vigorous competition in the markets in which the Company
- the Company's ability to attract and retain qualified executives
and other key personnel;
- the Company's reliance on independent foreign manufacturers;
- changes in the costs of raw materials, labor, advertising and
- the general inability to obtain higher wholesale prices for the
Company's products that the Company has experienced for many years;
- the uncertainties of sourcing associated with an environment in which
general quota has expired on apparel products but litigation and
political activity seeking to re-impose quotas have been initiated;
- the Company's ability to successfully implement new operational and
financial computer systems; and
- the Company's ability to secure and protect trademarks and other
intellectual property rights.
A further description of these risks and uncertainties and other important factors that could cause actual results to differ materially from the Company's expectations can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, including, but not limited to, the Statement Regarding Forward-Looking Disclosure and Item 1A-Risk Factors therein, and in the Company's other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations may prove to be incorrect. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
SOURCE Jones Apparel Group, Inc.