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. (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.