Jones Apparel Group
Jones Apparel Group, Inc. is a leader in the apparel industry. The company designs and markets a broad array of men's, women's, and junior's sportswear as well as moderately priced suits, dresses, and casualwear. Its clothing is sold under its original Jones New York label, as well as the labels Evan-Picone, Rena Rowan, Saville, Todd Oldham, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, and Napier. Licensed brands include Lauren by Ralph Lauren, Ralph by Ralph Lauren, and Polo Jeans Company. The company also markets costume jewelry under the Tommy Hilfiger brand licensed from TH Corporation. Jones Apparel Group was one of the fastest growing companies in the U.S. apparel industry during the late 1980s and early 1990s. Federated Department Stores Inc. and Mays Department Stores Co. are Jones's biggest customers.
Sidney Kimmel founded and became President of the Jones Apparel Division of W.R. Grace & Co in 1970.
In 1975, Mr. Kimmel and a partner bought the Company from grace and incorporated it as Jones Apparel Group Inc., under the laws of the Commonwealth of Pennsylvania. Over the following ten years, Mr. Kimmel proceeded to build Jones New York into one of the finest names in the better womenï¿½s apparel business. Through consistently high design and quality and successful merchandising, marketing and advertising, Jones has grown into a substantial force in the womenï¿½s apparel industry.
Through 1984, Jones was very profitable, but beginning in 1985 and running through 1987, Jones incurred net losses. A subsequent turnaround was extremely successful as Jones returned to profitability in 1988 commenced its rapid growth.
On May 15, 1991, Jones became a public company with a listing on the New York Stock Exchange. Growth continued as record sales and profits were announced in each subsequent year, with Jones reaching the $1 billion sales level in 1996.
In 1993, Jones purchased the Evan-Picone label.
In 1995, Jones Apparel Group established a licensing agreement with Polo Ralph Laruen Corporation that resulted in the enormously successful Lauren by Ralph Lauren line.
In October 1998, Jones announced its first major acquisition ï¿½ the purchase of Sun Apparel, Inc. of El Paso, Texas. Sun is a designer, manufacturer and distributor of jeanswear, sportswear and related apparel for men, women and children. Sun markets products under the Polo Jeans Company brand, licensed from polo Ralph Lauren Corporation, as well as other owned, licensed and private label brands.
Jones concurrently announced its first public debt offering of both $265 million in senior notes due 2001 and a $550 million bank credit facility to finance the acquisition as well as for working capital, general corporate and trade letter of credit requirements.
In 1999, Jones introduced a sportswear line for woman age 16 to 24 under the licensed Ralph by Ralph Lauren brand. In June 1999, Jones completed the acquisition of Nine West Group Inc.
In April 2000, Jones acquired the Canadian licenses for several Polo Ralph Lauren brands, including polo Jeans Company, Polo by Ralph Lauren, Polo Sport for Men, and Polo Golf.
In July 2000, Jones completed the acquisition of Victoria + Co Ltd. Victoria is a leading designer and marketer of branded and private label costume jewelry.
In June 2001, Jones completed the acquisition of McNaughton Apparel Group Inc. McNaughton designs, markets and contracts for the manufacture of broad line of brand name, moderately-priced womenï¿½s and juniorsï¿½ career and casual clothing.
In April 2001, Jones completed the acquisition of Judith Jack, LLC. Judith Jack is a manufacturer and distributer of womenï¿½s jewelry, including marcasite and sterling silver products.
In April 2002, Jones completed its acquisition of Gloria Vanderbilt Apparel Group. Gloria Vanderbilt is a leading designer, marketer and distributor of womenï¿½s moderately priced stretch and twill jeanswear.
In August 2002, Jones completed its acquisition of of RSV Sport, Inc. and its related companies, herein referred to as l.e.i. l.e.i. is a leading designer manufacturer and distributor of girlsï¿½ and young womenï¿½s moderately-priced jeanswear.
In August 2003, Jones Apparel Group completed its strategic acquisition of Kaser, Ltd. as part of its global multiproduct, multi-channel diversification strategy. Kasper, Ltd. is a leading marketer and manufacturer of womenï¿½s suits and sportswear.
Form its original Pennsylvania and new York locations, Jones has grown to include warehouses and offices in Canada, Mexico, New Jersey, Tennessee, Texas, Delaware, North Carolina and Virginia. By the end of 2003, Jones employed over 17,000 full-time and 4,500 part-time people worldwide.