The Jones Group Inc. (ticker: JNY, exchange: New York Stock Exchange (.N))
News Release -
Jones Apparel Group, Inc. Signs Sub-License Agreement With Carole Hochman Designs, Inc. For Lauren Ralph Lauren Sleepwear
NEW YORK, Sept. 26 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) today announced that it has signed a sub-license agreement with
Carole Hochman Designs, Inc., to manufacture and market women's sleepwear
under the Lauren Ralph Lauren brand in the United States to department stores
that carry the Lauren Ralph Lauren Sportswear collection. Jones Apparel Group
holds the license agreement with Polo Ralph Lauren Corporation for Lauren
Ralph Lauren Sportswear and certain other categories. The Lauren Ralph Lauren
Sleepwear collection will be launched to the trade in the January 2003 market
for Fall 2003 delivery in showrooms located at 135 Madison Avenue, New York,
Peter Boneparth, President and Chief Executive Officer, Jones Apparel
Group, Inc., stated, "We are pleased to join with Carole Hochman Designs, Inc.
and Polo Ralph Lauren Corporation to extend the Lauren Ralph Lauren brand.
This collaboration will strengthen our market leadership position with the
ultimate Lauren consumer."
Carole Hochman, Chairman, Carole Hochman Designs, Inc., stated, "We are
thrilled to enter into a partnership with Polo Ralph Lauren and the Jones
Apparel Group, two of the world's premier apparel companies. The Lauren Ralph
Lauren Sleepwear collection adds an exciting new dimension to the sleepwear
category. We consider this to be an extraordinary business opportunity."
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, l.e.i., 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 operational execution.
Carole Hochman Designs, Inc., privately held, is a leading marketer of
sleepwear, loungewear and robes in department stores, specialty stores and
mid-tier retailers in the U.S. under the Carole Hochman, and licensed
Oscar de la Renta, Esprit, Jockey and Nine & Co. labels.
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, both of Jones Apparel Group, +1-215-785-4000