Jones Apparel taking new name: Jones Group Inc.
Jones Apparel Group Inc., the New York-based fashion company that has Philadelphia-area roots, announced today that it was celebrating its 40th year by changing its name to the Jones Group Inc.
Jones Apparel Group Inc., the New York-based fashion company that has Philadelphia-area roots, announced today that it was celebrating its 40th year by changing its name to the Jones Group Inc.
The new name will be effective at the end of October. The company said it will not affect the corporate structure.
With a stable of 35 companies includes Jones New York, Nine West and Anne Klein, Jones said it was positioning itself to increase its current lines and acquire new brands and design names and become a global branded business.
"I am humbled to think that 40 years ago we started with nine associates on Walnut Street in Philadelphia as a single brand company and have grown to be over 35 lifestyle brands and category labels operating in seven product categories," said Sidney Kimmel, founder and chairman. "The business, while rooted in apparel, has expanded well beyond its beginnings."
The company retains finance offices in Bristol, Bucks County.
Jones Group said it would keep its JNY ticker symbol on the New York Stock Exchange.
Among the company's other brands are Stuart Weitzman (which it gained control of earlier this year), Easy Spirit, Gloria Vanderbilt, l.e.i, Bandolino, Enzo Angiolini, Joan & David, Kasper, Energie, Evan Picone, Le Suit, Mootsies Tooties, Sam & Libby, Givenchy (licensing agreement), Albert Nipon and Pappagallo.
Company shares, which have traded in the $13.72 to $24.72 range in the last 52 weeks, were priced early this afternoon at $19.14, down 36 cents, on the New York Stock Exchange. - Roslyn Rudolph