Jones Apparel Group, Inc. Signs License Agreement With Riviera Trading, Inc. for Jones New York Sunglasses
NEW YORK, N.Y., Aug. 2 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced that it has signed an exclusive license agreement with Riviera Trading, Inc., which will manufacture and distribute women's and men's sunglasses under the Jones New York brand to department stores and specialty retailers who carry Jones New York apparel. The collection, previously licensed to Lantis Eyewear Corporation under a license which expires on December 31, 2004, will be re-launched to the trade for Spring 2005 in Riviera's showrooms. Jones Apparel Group and Rem Eyewear entered into a separate license agreement for Jones New York optical eyewear which was re-launched to the optical trade in March, 2004. Peter Boneparth, President and Chief Executive Officer of Jones Apparel Group, Inc., stated, "We are pleased to expand our existing relationship with Riviera by entering into a separate agreement for Jones New York sunglasses with high quality, modern classic sunglass designs to meet the lifestyle demands of our Jones New York Collection and Jones New York Signature customers." Orville Ankarlo, President and Chief Executive Officer, Riviera Trading, stated, "We are excited to enhance our licensing partnership with Jones Apparel Group to capitalize on the Jones New York sunglass opportunity. Jones New York is a powerful modern classic brand which enjoys high credibility for fashion and affordability which we are perfectly positioned to deliver to this important customer segment." Jones Apparel Group, Inc. (http://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, Evan- Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon and LeSuit. The Company also markets apparel under the Polo Jeans Company brand licensed from Polo Ralph Lauren Corporation, costume jewelry under the Tommy Hilfiger brand licensed from Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed from Givenchy Corporation, and footwear and accessories under the ESPRIT brand licensed from Esprit Europe, B.V. For more than 30 years, the Company has built a reputation for excellence in product quality and value, and in operational execution. 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 2003 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. Riviera Trading, Inc., New York, New York, is a leading marketer of sunglasses, hats, hair accessories and children's accessories under their own Riviera brand and the licensed Nine West, Nine & Co., l.e.i., Enzo Angiolini, Speedo and Ocean Pacific brands, with a reputation for quality and service.
SOURCE Jones Apparel Group, Inc.
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