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Jones Acquires Stake in Licensee

Jones Apparel Group has acquired a minority interest in GRI Group Limited.

Jones Apparel Group has acquired a minority interest in GRI Group Limited, a distribution company that over the last 15 years has helped the firm establish its business in Asia.

GRI is the exclusive licensee in Asia for a number of Jones’ brands, including Nine West, Anne Klein New York, Easy Spirit, Enzo Angiolini and Joan and David.

Financial details of the transaction were not disclosed.

”Industry reports show that rising income and favorable economic policies are supporting robust consumption growth in China,” said Wesley R. Card, president and chief executive officer of Jones. “The Asian consumer has responded positively to our footwear and accessories brands, and we are eager to grow our apparel brands in the region in a more meaningful way. We see opportunities to significantly increase our retail footprint in emerging markets over the next several years.”