Jones Apparel extends influence in Asia
Jones Apparel Group, Inc. has acquired a minority interest in GRI Group Limited (GRI), an international accessories and apparel brand management and retail-distribution network. Financial details were not disclosed.
Jones distributes its products through international partners in more than 60 countries through more than 1,000 retail locations. GRI is the exclusive licensee of several of its brands in Asia, including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan and David.
Jones Apparel Group president and chief executive officer, Wesley Card, said: "Industry reports show that rising income and favourable economic policies are supporting robust consumption growth in China. The Asian consumer has responded positively to our footwear and accessories brands, and we are eager to grow our apparel brands in the region in a more meaningful way. We see opportunities to significantly increase our retail footprint in emerging markets over the next several years."
