Authentic Brands Group acquires Jones New York

“The acquisition marks a new milestone in the company's growth, propelling the ABG portfolio to more than 4.5 billion dollar in retail sales,” said Authentic Brands Group (ABG), a marketer of several fashion, sports and lifestyle brands, about the acquisition of Jones New York.

Jones New York generates circa 1 billion dollars in sales across the US and in international markets such as Canada, Europe, the Middle East and Latin America.

"We are honoured to welcome Jones New York to ABG's distinguished women's portfolio," said Jamie Salter, CEO of ABG.

"With a 40 year history of iconic and timeless design, Jones New York embodies American style and our vision fuses ABG's passion for brand building with an approach that will redefine this enduring classic," Salter added.

Partnerships and improved distribution to give Jones New York its former luster

“Jones New York has a long-standing position as an iconic American brand through best-in-class licensing and retail partners," said Nick Woodhouse, president of ABG, commenting the acquisition and advancing the new strategy for the fashion brand.

"We see great opportunity for this powerhouse brand and are implementing a strategy that is fuelled by partnerships, innovative design, and distribution,” added Woodhouse.

As announced by ABG in a release earlier this week, its initial focus for Jones New York will be the development of its strategic positioning, enhancing core values, and rebuilding the brand to its former prominence.

On another note, the retail group is to soon announce a new long-term, strategic partner in the US and Canada for key categories that will be launched in Spring 2016.

As part of this acquisition, ABG also announced the appointment of Mark Weber as strategic adviser whose immediate focus will be on the Jones New York brand.

Weber served as both President and CEO of PVH Corp, and most recently, served an 8-year term as CEO of LVMH, Inc., where he oversaw g a number of businesses and served as CEO of Donna Karan International and Thomas Pink.

"I am excited to get involved with the leadership team at ABG and I believe my experience in the luxury fashion sector will be a valuable asset that can be leveraged across ABG's brand portfolio," Mark Weber said.