Anne Klein jumped into e-commerce Thursday with a dedicated site after parent company Jones Apparel Group Inc. issued a tender offer for its debt.
This story first appeared in the April 3, 2009 issue of WWD. Subscribe Today.
The e-commerce site, anneklein.com, features the complete Anne Klein New York offerings and AK Anne Klein clothing, footwear, handbags, jewelry and watch collections. It also celebrates the brand’s history in a legacy section highlighting the story of founder Anne Klein and the succession of designers who followed.
“Anne Klein is one of the foremost brands in women’s fashion apparel, and we are happy to make this collection even more accessible to the Anne Klein consumer, who will no doubt enjoy shopping at our new, online flagship store,” said Ron Offir, president of Jones Apparel Group e-commerce.
To mark the launch, anneklein.com is offering a chance to win a $1,000 shopping spree.
Meanwhile on Wednesday, Jones Apparel Group Inc., along with Jones Apparel Group Holdings Inc., Jones Apparel Group USA Inc., Nine West Footwear Corp. and Jones Retail Corp., commenced a cash tender offer to purchase their outstanding 4.25 percent senior notes due 2009, as well as a consent solicitation for those 2009 notes, the 5.125 percent senior notes due 2014 and the 6.125 percent senior notes due 2034.
The tender offer and consent solicitation follow Jones’ new senior secured $650 million credit facility. As of Monday, there was an outstanding $250 million principal amount of each set of notes, totaling $750 million.
Adoption of the proposed amendments requires the consent of holders of at least a majority in the principal amount of the notes outstanding. The tender offer expires by midnight April 29, and the consent solicitation expires on midnight on April 15. Citi has been retained to serve as the lead dealer manager for the tender offer and the lead solicitation agent for the consent solicitation.