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. 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 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
SOURCE Jones Apparel Group, Inc.
