Jones Apparel Group and Steven Madden Sign License Agreement for ...

Tag : Designer Footwear

NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- Jones Apparel Group,Inc. (NYSE: JNY) announced today that it has expanded its l.e.i.franchise by signing an exclusive license agreement with Steven Madden , Ltd. (Nasdaq: SHOO) which will design, manufacture and distributea collection of junior and girls footwear under the l.e.i. brand.The collection will be distributed exclusively to Wal-Mart storesnationwide beginning Spring 2009.
Wesley R. Card , Jones Apparel Group President and Chief Executive Officer,stated, "l.e.i. footwear is the first of many planned categoryextensions intended to leverage the strength of l.e.i. as a brandedresource across relevant categories together with Wal-Mart. Webelieve the junior and girl's customers recently discovering l.e.i.at Wal-Mart will be excited to accessorize their denim with trendright footwear at affordable prices. We are pleased to enter intothis agreement with Steven Madden , Ltd. to deliver footwear positioned consistent with our brandstrategy and which will exceed the l.e.i. customer's expectationsshopping at Wal-Mart."
l.e.i. is an acronym for LIFE, ENERGY, INTELLIGENCE. l.e.i.'sDeclaration of Independence is claiming a freedom from old ways ofthinking that are no longer accurate and appropriate. l.e.i.'sproducts and marketing embrace the authenticity, cheekiness,intelligence and wit of today's modern American girl.
Edward Rosenfeld , Interim Chief Executive Officer of Steven Madden , Ltd., stated, "We are delighted to partner with Jones ApparelGroup to bring footwear to industry leader Wal-Mart under thelicensed l.e.i. junior brand. We look forward to the opportunity ofoffering trend right footwear solutions to a broad group of juniorand girl's customers shopping their stores at reasonable prices."
About Jones Apparel Group, Inc.
Jones Apparel Group, Inc. ( www.jny.com ) is a leading designer, marketer and wholesaler of brandedapparel, footwear and accessories. The Company also marketsdirectly to consumers through its chain of specialty retail andvalue-based stores. The Company's nationally recognized brandsinclude Jones New York, Nine West, Anne Klein , Gloria Vanderbilt , Kasper, Bandolino, Easy Spirit, Evan-Picone, l.e.i., Energie, Enzo Angiolini , Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack , Albert Nipon and Le Suit . The Company also markets costume jewelry under the Givenchy brandlicensed from Givenchy Corporation, footwear under the DockersWomen brand licensed from Levi Strauss & Co., and apparel underthe Rachel Roy brand licensed from Rachel Roy IP Company, LLC. Eachbrand is differentiated by its own distinctive styling, pricingstrategy, distribution channel and target consumer. The Companycontracts for the manufacture of its products through a worldwidenetwork of quality manufacturers. The Company has capitalized onits nationally known brand names by entering into various licensesfor several of its trademarks, including Jones New York,Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men'sproducts which the Company does not manufacture. For more than 30years, the Company has built a reputation for excellence in productquality and value, and in operational execution.
About Steven Madden , Ltd.
Steven Madden , Ltd. designs and markets fashion forward footwear and accessoriesfor women, men and children. The shoes and accessories are soldthrough company-owned retail stores, department stores, apparel andfootwear specialty stores, and online at www.stevemadden.com . The Company has several licensees for its brands, including forouterwear, cold weather accessories, eyewear and hosiery and ownsand operates 99 retail stores, including its online store. TheCompany is the licensee for footwear, handbags and belts forFabulosity and for handbags and belts for Betsey Johnson , Daisy Fuentes , and Tracy Reese .
CONTACT: For Jones Apparel Group: Investors, John T. McClain , Chief Financial Officer, +1-212-642-3860 or Media, Joele Frank and Sharon Stern of Joele Frank , Wilkinson Brimmer Katcher, +1-212-355-4449;
For Steven Madden , Ltd.: Investors, Cara O'Brien or Leigh Parrish or Media, Diane Zappos, all of FD, +1-212-850-5600
SOURCE Jones Apparel Group, Inc.