ABG acquires Jones New York, appoints former LVMH CEO

By

Obi Anyanwu

Published
Apr 24, 2015

ABG’s focus for Jones New York will be the development of strategic positioning, enhancing core values, and brand rebuilding. Jones New York's previous positioning in men’s tailoring, sportswear, and accessories will play a role in the brand’s global growth plans, and the brand will also emphasize its women’s apparel and accessories. ABG will announce a new long-term strategic partner in the US and Canada that will launch at retail in spring 2016.

"We are honored to welcome Jones New York to ABG's distinguished Women's portfolio," said Jamie Salter, Chairman and CEO of ABG.  "With a 40 year history of iconic and timeless design, Jones New York embodies American style. Our vision fuses ABG's passion for brand building with a 21st century approach that will redefine this enduring classic."
 
Mark Weber, who was appointed as Strategic Advisor, will focus on the Jones New York brand. Weber most recently served an 8-year term as CEO of LVMH, Inc., where he was a member of the executive committee in Paris overseeing a number of brands including Donna Karan International and Thomas Pink.

"I am excited to get involved with the leadership team at ABG," said Mark Weber.  "I believe my experience in the luxury fashion sector will be a valuable asset that can be leveraged across ABG's brand portfolio."
 
In January 2015, Jones New York announced that it was pursuing strategic alternatives for the brand. In addition to the announcement, the company will close its retail stores and related business operations.
 
Today, Jones New York drives close to $1 billion in retail sales across department stores in the US, Canada, Europe, the Middle East and Latin America. The recent acquisition propels ABG’s portfolio to over $4.5 billion in retail sales.