Nine West Announces Exclusive Licensing Agreement for Fashion Sneakers With Philip Simon Brands Group
11 Jul, 2011, 08:30 ET
NEW YORK, July 11, 2011 /PRNewswire/ -- The Jones Group (NYSE: JNY) ("Jones" or the "Company") today announced that it has entered into an exclusive, world-wide license agreement with Philip Simon Brands Group, Inc. ("PSBG") for the creation, production, marketing and global distribution of a fashion sneaker collection under the Nine West brand. Philip Simon Brands Group is well-known for its modern, innovative approach to fashion sneaker designs.
The partnership creates a Nine West brand extension that will be known as Nine West Original Sneakers and will incorporate a unique logo and distinct packaging. The collection will capitalize on Philip Simon Brands Group's experience producing high end fashion sneakers that are on-trend and synergistic with Nine West's renowned style and design DNA.
Under the agreement, the initial Nine West Original Sneakers collection will be marketed and sold globally in better department stores, specialty retailers and Nine West global retail stores, with a FFANY (Fashion Footwear Association of New York) trade show introduction in August, and a launch planned in the spring of 2012. Nine West is currently sold in 60 countries with flagship stores in leading cities, including New York, Toronto, London, Paris, Tokyo, Hong Kong, Shanghai and Beijing. The initial term of the agreement ends on December 31, 2014 with a provision for further renewal. Nine West Original Sneakers' showroom will be located within the Nine West footwear showrooms.
Richard Dickson, The Jones Group President and Chief Executive Officer of Branded Businesses, stated: "The extension of Nine West into the hot, fashion athletic arena takes one of the world's premier footwear brands to an exciting, new level. The Jones Group continues to look towards further developing and enhancing its brands. Nine West's partnership with the creative minds behind Philip Simon Brands Group comes fresh on the heels of other successful brand initiatives over the past year, including the announced licensing agreement for a Nine West fragrance, which is set to launch in February 2012, and collaborations with Karen Elson, Giles Deacon and Sophie Theallet through our Shoelaborations platform."
Philip Chemla, Philip Simon Brands Group Chairman and President, stated: "We are proud to be launching the Nine West Original Sneakers collection with The Jones Group. Nine West is renowned for its style and quality footwear. We look forward to working together with the talented Nine West team to create an exciting new collection that will exceed the customer's expectations."
Ariel Weindling, Philip Simon Brands Group Chief Executive Officer, added: "We look forward to collaborating with Rick Paterno, The Jones Group President of Footwear on retail strategy for Nine West Original Sneakers."
About The Jones Group Inc.
The Jones Group Inc. (www.jonesgroupinc.com) is a leading global designer, marketer and wholesaler of over 35 brands with best-in-class product expertise across five divisions: apparel, footwear, jeanswear, jewelry and handbags. The Jones Group has a reputation for innovation, excellence in product quality and value, operational execution and talent. The Company also markets directly to consumers through branded specialty retail and outlet stores and through its e-commerce sites.
The Company's internationally recognized brands and licensing agreements (L) include: Nine West, Jones New York, Anne Klein, Kurt Geiger, Rachel Roy (L), Robert Rodriguez, Robbi & Nikki, Stuart Weitzman, B Brian Atwood (L), KG by Kurt Geiger, Boutique 9, Easy Spirit, Carvela, Gloria Vanderbilt, l.e.i., Bandolino, Enzo Angiolini, Nine & Co., GLO, Joan & David, Miss KG, Jones Wear, Andrew Marc/Marc Moto (L), Kasper, Energie, Evan-Picone, Le Suit, Mootsies Tootsies, Grane, Erika, Napier, Jessica Simpson (L), Dockers (L), Sam & Libby, Givenchy (L), Judith Jack, Albert Nipon and Pappagallo.
About Philip Simon Brands Group, Inc.
Philip Simon Brands Group, Inc. (PSBG) is a Los Angeles based primary supplier of fashion sneakers to department stores and independent specialty footwear retailers. PSBG was created by Philip Chemla and Ariel Weindling.
Forward Looking Statements
Certain statements contained herein are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding the Company's expected financial position, business and financing plans are forward-looking statements. The words "believes," "expects," "plans," "intends," "anticipates" and similar expressions identify forward-looking statements. Forward-looking statements also include representations of the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including:
- those associated with the effect of national, regional and international economic conditions;
- lowered levels of consumer spending resulting from a general economic downturn or lower levels of consumer confidence;
- the tightening of the credit markets and the Company's ability to obtain capital on satisfactory terms;
- given the uncertain economic environment, the possible unwillingness of committed lenders to meet their obligations to lend to borrowers, in general;
- the performance of the Company's products within the prevailing retail environment;
- customer acceptance of both new designs and newly-introduced product lines;
- the Company's reliance on a few department store groups for large portions of the Company's business;
- the Company's ability to identify acquisition candidates and, in a competitive environment for such acquisitions, acquire such businesses on reasonable financial and other terms;
- the integration of the organizations and operations of any acquired businesses into the Company's existing organization and operations;
- consolidation of the Company's retail customers;
- financial difficulties encountered by the Company's customers;
- the effects of vigorous competition in the markets in which the Company operates;
- the Company's ability to attract and retain qualified executives and other key personnel;
- the Company's reliance on independent foreign manufacturers, including political instability in countries where contractors and suppliers are located;
- changes in the costs of raw materials, labor, advertising and transportation;
- the general inability to obtain higher wholesale prices for the Company's products that the Company has experienced for many years;
- the Company's ability to successfully implement new operational and financial computer systems; and
- the Company's ability to secure and protect trademarks and other intellectual property rights.
A further description of these risks and uncertainties and other important factors that could cause actual results to differ materially from the Company's expectations can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2010, including, but not limited to, the Statement Regarding Forward-Looking Disclosure and Item 1A-Risk Factors therein, and in the Company's other filings with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations may prove to be incorrect. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
SOURCE The Jones Group Inc.
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