Jones Apparel Group and Steven Madden Sign License Agreement for l.e.i. Footwear
August 12 2008 - 6:03PM
PR Newswire (US)
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
distribute a collection of junior and girls footwear under the
l.e.i. brand. The collection will be distributed exclusively to
Wal-Mart stores nationwide 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 category extensions
intended to leverage the strength of l.e.i. as a branded resource
across relevant categories together with Wal-Mart. We believe the
junior and girl's customers recently discovering l.e.i. at Wal-Mart
will be excited to accessorize their denim with trend right
footwear at affordable prices. We are pleased to enter into this
agreement with Steven Madden, Ltd. to deliver footwear positioned
consistent with our brand strategy and which will exceed the l.e.i.
customer's expectations shopping at Wal-Mart." l.e.i. is an acronym
for LIFE, ENERGY, INTELLIGENCE. l.e.i.'s Declaration of
Independence is claiming a freedom from old ways of thinking that
are no longer accurate and appropriate. l.e.i.'s products 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 Apparel Group to bring footwear to
industry leader Wal-Mart under the licensed l.e.i. junior brand. We
look forward to the opportunity of offering trend right footwear
solutions to a broad group of junior and girl's customers shopping
their stores at reasonable prices." About Jones Apparel Group, Inc.
Jones Apparel Group, Inc. (http://www.jny.com/) is a leading
designer, marketer and wholesaler of branded apparel, footwear and
accessories. The Company also markets directly to consumers through
its chain of specialty retail and value-based stores. The Company's
nationally recognized brands include 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 brand licensed from Givenchy Corporation, footwear
under the Dockers Women brand licensed from Levi Strauss & Co.,
and apparel under the Rachel Roy brand licensed from Rachel Roy IP
Company, LLC. Each brand is differentiated by its own distinctive
styling, pricing strategy, distribution channel and target
consumer. The Company contracts for the manufacture of its products
through a worldwide network of quality manufacturers. The Company
has capitalized on its nationally known brand names by entering
into various licenses for 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's products which the Company does not manufacture. For more
than 30 years, the Company has built a reputation for excellence in
product quality and value, and in operational execution. About
Steven Madden, Ltd. Steven Madden, Ltd. designs and markets fashion
forward footwear and accessories for women, men and children. The
shoes and accessories are sold through company-owned retail stores,
department stores, apparel and footwear specialty stores, and
online at http://www.stevemadden.com/. The Company has several
licensees for its brands, including for outerwear, cold weather
accessories, eyewear and hosiery and owns and operates 99 retail
stores, including its online store. The Company is the licensee for
footwear, handbags and belts for Fabulosity 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 DATASOURCE:
Jones Apparel Group, Inc. CONTACT: Investors, John T. McClain,
Chief Financial Officer, Jones Apparel Group, +1-212-642-3860, or
Media, Joele Frank and Sharon Stern of Joele Frank, Wilkinson
Brimmer Katcher, +1-212-355-4449, for Jones Apparel Group; or
Investors, Cara O'Brien or Leigh Parrish, or Media, Diane Zappos,
all of FD, +1-212-850-5600, for Steven Madden, Ltd. Web site:
http://www.jny.com/ http://www.stevemadden.com/
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