Dive Brief:
-
Jones New York will close 127 Jones New York Outlet stores and end its wholesale business this year, the company said Thursday.
-
The company, which was part of private equity firm Sycamore Partners’ acquisition last year of The Jones Group, said it will be looking at “strategic alternatives” but was not specific.
-
The closures do not affect other Jones Group brands, which include Nine West, Anne Klein, Easy Spirit, and others.
Dive Insight:
Jones New York has been a stable brand for a long time, featured at department stores like Macy’s as well as its own stores—but has felt the bumps of the apparel business in recent years.
“We recognize that the Jones New York brand is important to many loyal customers, and we are pursuing strategic alternatives for the brand,” interim CEO Andrew Hede said in a statement. “We will work with our wholesale customers and vendors to ensure an orderly transition over the course of this year.”