Jones Apparel Group gets new name
NEW YORK Jones Apparel Group announced that it has changed its name to The Jones Group Inc.
Sidney Kimmel, Founder and Chairman of The Jones Group, said: "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. The business, while rooted in apparel, has expanded well beyond its beginnings."
Added Wesley Card, CEO of the Jones Group: "This new name embraces Jones' heritage while signaling our vision for the future. Jones has never been better positioned to leverage our exceptional talent, best-in-class product expertise and innovative brand management across our apparel, footwear, jeanswear, jewelry and handbag divisions. With these resources, we can not only cultivate our existing brands to their full marketplace potential, but also discover and nurture new brands and design talent into high-demand, global branded businesses. We remain focused on optimizing and expanding our portfolio to deliver value to shareholders, applying the same passion and creativity with which Sidney Kimmel founded the company."
The name change, which will be effective at the end of October, will not affect the existing corporate structure of the company nor will it have any impact on the status of any of its brands or licensing agreements, the company reported. The company's common shares will continue to trade on the New York Stock Exchange under its ticker symbol "JNY."