The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group, Inc. Announces Launch Of Gloria Vanderbilt Women's and Girls' Footwear
NEW YORK, June 21 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today announced that its Nine West Group subsidiary would design
and market Gloria Vanderbilt branded women's and girls' footwear. This
product line was previously marketed under a licensing arrangement when Jones
acquired the Gloria Vanderbilt trademark earlier this year.
Rhonda Brown, President and CEO of Nine West Group, stated, "Our team is
very excited about the opportunity to design and market footwear under the
Gloria Vanderbilt brand. It is yet another highly-recognizable brand name
which is being added to our powerful footwear portfolio." Ms. Brown went on
to say, "We intend to launch the business during the August footwear market in
Las Vegas with customer deliveries beginning in Spring 2003."
Peter Boneparth, President and CEO of Jones Apparel Group, Inc.,
commented, "We are happy to see the growth strategy of our recently acquired
Gloria Vanderbilt brand continue to evolve. This is a great example of our
ability to leverage well-known brands across multiple core competencies."
Jones Apparel Group, Inc. (www.jny.com), a Fortune 500 Company, is a
leading designer and marketer of branded apparel, footwear and accessories.
The Company's nationally recognized brands include: Jones New York; Lauren by
Ralph Lauren, Ralph by Ralph Lauren, and Polo Jeans Company, which are
licensed from Polo Ralph Lauren Corporation; Evan-Picone, Rena Rowan, Norton
McNaughton, Gloria Vanderbilt, Erika, Energie, Currants, Jamie Scott, Todd
Oldham, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Napier and Judith
Jack. The Company also markets costume jewelry under the Tommy Hilfiger brand
licensed from Tommy Hilfiger Corporation and the Givenchy brand licensed from
Givenchy Corporation. Celebrating more than 30 years of service, the Company
has built a reputation for excellence in product quality and value, and in
Certain statements herein are "forward-looking statements" made pursuant
to the safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements represent the Company's expectations
or beliefs concerning future events that involve risks and uncertainties,
including the strength of the economy and the overall level of consumer
spending, the performance of the Company's products within the prevailing
retail environment, and other factors which are set forth in the Company's
2001 Form 10-K and in all filings with the SEC made by the Company subsequent
to the filing of the Form 10-K. The Company does not undertake to publicly
update or revise its forward-looking statements as a result of new
information, future events or otherwise.
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SOURCE Jones Apparel Group, Inc.
Web site: http: //www.jny.com
CONTACT: Wesley R. Card, Chief Operating and Financial Officer, or Anita Britt, Executive Vice President Finance, +1-215-785-4000, both of Jones Apparel Group