Barneys New York ("Barneys"), a wholly-owned subsidiary of Jones Apparel Group, Inc. (NYSE: JNY), announced the scheduled opening of a Barneys New York CO-OP store at The Collection at Chevy Chase Center. This new location, consisting of approximately 11,400 square feet, will be Barneys' eighth and largest free- standing CO-OP store to date. Scheduled to open in fall of 2005, the Chevy Chase CO-OP will be the fourth store opened by Barneys New York this year, including the latest CO-OP location, which opened in the Lincoln Park section of Chicago, and the Atlanta and Costa Mesa CO-OP's, which opened earlier this year.
Howard Socol, Chairman and CEO of Barneys, stated, "We are excited that our Chevy Chase CO-OP will be located in the new Collection at Chevy Chase Center and look forward to offering our CO-OP concept in the Washington, DC and Maryland market."
Mr. Socol continued, "As part of the growth strategy of the Barneys New York brand, we continue to seek opportunities to grow our CO-OP concept in the appropriate markets throughout the country."
Barneys New York, a wholly owned subsidiary of Jones Apparel Group, Inc., is a luxury retailer with flagship stores in New York City, Beverly Hills and Chicago. Barneys also operates three regional full price stores, seven CO-OP Barneys New York stores, eleven outlet stores and two semi-annual warehouse sale events.
Jones Apparel Group, Inc. (http://www.jny.com), a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. We also market directly to consumers through our chain of specialty retail and value-based stores, and operate the Barneys chain of luxury stores. Our nationally recognized brands include Jones New York, Evan- Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon, Le Suit and Barneys New York. The Company also markets apparel under the Polo Jeans Company brand licensed from Polo Ralph Lauren Corporation, costume jewelry under the Tommy Hilfiger brand licensed from Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. We primarily contract for the manufacture of our products through a worldwide network of quality manufacturers. We have capitalized on our nationally known brand names by entering into various licenses for several of our 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 we do not manufacture. For more than 30 years, we have built a reputation for excellence in product quality and value, and in operational execution.
Certain statements herein are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements represent the Company's expectations or beliefs concerning future events that involve risks and uncertainties, including the strength of the economy and the overall level of consumer spending, the performance of the Company's products within the prevailing retail environment, and other factors which are set forth in the Company's 2004 Form 10-K and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
SOURCE Jones Apparel Group, Inc.
Posted April 2005
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