Socol also stated, "Their Company continues to explore the possibility of additional flagship and CO-OP stores and they are currently pursuing a number of such opportunities in certain markets."
Peter Boneparth, President and Chief Executive Officer, Jones Apparel Group Inc, added, "Their interest in acquiring Barneys was in large part driven by their belief in the considerable untapped potential of the brand.
They are extremely satisfied not only with the performance of Barneys since the acquisition in December of 2004, but also with the steps taken this past year towards growing its business."
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, eight CO-OP Barneys New York stores, eleven outlet stores and two semi-annual warehouse sale events.
Fortune 500 company, Jones Apparel Group Inc is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories.
They also market directly to consumers through their chain of specialty retail and value-based stores, and operate the Barneys New York chain of luxury stores.
marketing@alchempro.com
