Jones Apparel Group acquires minority interest in GRI

Jun 24, 2008 (Datamonitor via COMTEX) -- JNY | Quote | Chart | News | PowerRating -- Jones Apparel Group has acquired a minority interest in GRI Group, an accessories and apparel brand management and retail-distribution network.

According to the company, it distributes its products through international partners in over 60 countries with over 1,000 retail locations. GRI is the exclusive licensee of several of Jones' brands in Asia, including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan and David.

A Jones representative has joined the board of GRI. Additional terms of the transaction were not disclosed.

Wesley Card, president and CEO of Jones Apparel Group, said: "GRI Group has been instrumental in establishing our brands abroad and we look forward to building on our successful business relationship and enhancing our international strategy through this investment."

http://www.datamonitor.com

Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

Morning Coffee with TradingMarkets -- Free Newsletter

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index