NEW YORK, July 23, 2018 /PRNewswire/ -- Jump Design Group announced today its acquisition of the sportswear label Cathy Daniels. Jump Design Group has taken on all assets related to Cathy Daniels. The Cathy Daniels sales team and factory groups will continue while President Jerry Passaretti—the face of Cathy Daniels for the past 40 years—will spearhead its business development as part of Jump Design Group.
"We're not on a mission to take companies that are in trouble and turn them around," explains Ashesh Amin, CEO of Jump Design Group. "We're on a mission to acquire companies that have a sound business portfolio, and complement them with our strategies, marketing and customer base."
The late Herbert L. Chestler started Eccobay in 1972, out of the back seat of his station wagon. In 1984, a few years after his sons Steve and Danny joined the team, the Cathy Daniels label was launched, and continues to grow and expand as a leader in the moderate sportswear area. Steve and Danny stated, "He taught us the business, which was built on hard work, honesty, integrity, and commitment to making the best product for our customers."
"We are extremely proud of the fact that we have left a legacy and made sure our entire Cathy Daniels team, including our factory groups, will have an opportunity to continue to run the business under new leadership," said Steve and Daniel Chestler, "Now for the next phase, we have passed the torch to Jump Design Group, but more importantly to Glenn Schlossberg, Ashesh Amin and Jerry Passaretti—we wish them continued growth and success with our family legacy."
Mr. Amin, an apparel industry veteran who has helped build brands J.Crew, BCBG, Adrianna Papell and Bombay Shirt Company commented, "Over the last 30 years, our founder Glenn Schlossberg built a rock-solid business foundation here at Jump. In the next two or three years, we will chart a new course by using the most innovative technology to get the best product to the customer at the right time. Our acquisition strategy is to synergize our robust back end infrastructure with the acquired companies, while the front end—the brands and sales teams—remains the same."
Jump Design Group intends to inject this technology DNA into its acquired companies that, while already successful, could either not afford the technology, or didn't have the faith that technological investments would make them more profitable. This integration of design, technology and branding, with demand, logistics and finance is at the heart of Jump's planned expansion from dresses, into athleisure, sportswear, and denim.
Jump Design Group captures and manufactures women's runway trends for retail using fast-turn, made-in-America production. With an extensive team of designers and state-of-the-art technologies, Jump is uniquely positioned to understand what sells and deliver the highest quality quickly.
SOURCE Jump Design Group