American Sportswear Label Jones New York Sold to Authentic Brands Group
By Kenneth Richard | The Impressionist
Jones New York, one of Seventh Avenue’s mainstay brands which ceased operations in January of this year, has found a new owner in Authentic Brands Group. The label that at one time dominated the American sportswear landscape, generating a reported $1 billion in annual sales, was sold from private equity firm Sycamore Partners for an undisclosed sum.
Authentic Brands Group, the brand management and licensing firm that owns Juicy Couture, Hart Schaffner Marx, Judith Leiber, Hickey Freeman, Spyder, Adrienne Vittadini, Taryn Rose, Misook and Marilyn Monroe, is acquiring Jones intellectual property assets but none of the retail operations. Those assets include trademarks for Jones New York Collection, Jones New York Signature, Jones New York Sport, Jones New York Studio, Jones JNY, Jones & Co., and Jones Studio.
Jones at one time was carried at stores such as Macy’s, Lord & Taylor, Bon-Ton, Belk, Dillard’s, as well as its own outlets, and grew to prominence in the 80’s, becoming the cornerstone of working women wardrobes. ABG is said to be in talks with the retail community and licensees as part of their revival strategy. Previously, ABG partnered with mass retailer Kohl’s for a US retail exclusive of their Juicy Couture brand. That exclusive provided the label an economic engine in the U.S. and enabled the brand to focus on international licensee expansion.
With a 40-year history of iconic and timeless design, Jones New York embodies American style. Our vision fuses ABG’s passion for brand-building with a 21st-century approach that will redefine this enduring classic.
Acting as a strategic advisor on that 21st-century approach will beMark Weber, former LVMH Inc. CEO and chairman and CEO of Donna Karan International and Thomas Pink. Weber recently launched his own consulting practice with LVMH Inc. as a client. Weber’s son, Jarrod Weber, works at ABG as vice president of its men’s division.