Jones New York is getting a new lease on life.
Authentic Brands Group, LLC revealed Thursday that it’s adding the label to its stable of women’s brands and has tapped Mark Weber as strategic adviser. Weber most recently served as CEO of LVMH Louis Vuitton Moet Hennessy.
The news follows the announcement in January that private equity firm Sycamore Partners, which acquired The Jones Group for $2.2 billion a year ago, was ending Jones New York’s wholesale business and shuttering 127 retail locations throughout 2015 to pursue “strategic alternatives” for the 40-year-old brand.
Terms of the sale were not disclosed but Authentic Brands said the addition of Jones New York pushes its portfolio to more than $4.5 billion in retail sales.
Authentic Brands plans to rebuild the brand to its former prominence by emphasizing women’s apparel and accessories, as well as men’s tailored clothing, sportswear and accessories. In addition, the company is gearing up to announce a new long-term, strategic partner in the U.S. and Canada for key categories that will launch at retail in Spring 2016.
Weber, whose resume includes stints as both president and CEO of PVH Corp., said, “I believe my experience in the luxury fashion sector will be a valuable asset that can be leveraged across ABG’s brand portfolio.”
“We see great opportunity for this powerhouse brand and are implementing a strategy that is fueled by partnerships, innovative design and distribution,” said Nick Woodhouse, president and chief marketing officer of Authentic Brands, adding, “Jones has a deep-rooted American heritage that we are excited to leverage on a global scale.”