Nine West Holdings

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Nine West Holdings
Private
IndustryFashion
FounderSidney Kimmel
Headquarters,
United States
OwnerSycamore Partners
Number of employees
6,000

Nine West Holdings (formerly The Jones Group and Jones Apparel Group) is an American designer, marketer and wholesaler of branded clothing, shoes and accessories.

Operations[edit]

Nine West Holding headquarters are in New York City. The company also markets directly to consumers through their chain of specialty retail and value-based stores. In addition, it markets costume jewelry under the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co.

History[edit]

In 1970, Sidney Kimmel founded and became President of the Jones Apparel Division of W.R. Grace & Co. Together with Grace accountant Gerard Rubin, Kimmel bought Grace's fashion division in 1975, incorporating it as Jones Apparel Group. Jones expanded quickly by bringing out new labels and licensing others, such as Christian Dior.

In the early 1980s, Jones Apparel offered the sweatsuit fashions of Norma Kamali, and in 1984 they acquired the license for the Gloria Vanderbilt line from Murjani.

In the early 1990s, the company expanded with new lines Rena Rowan and Jones & Co.

In 2004, the company purchased luxury department store chain Barneys New York for $400 million, and sold it, in September 2007, to Dubai-based investment firm Istithmar for $942.3 million.

In December 2013, Sycamore Partners, which is managed by Stefan L. Kaluzny, purchased the Jones Group for about US$2.2 billion.[1][2] Wesley Card is the CEO of The Jones Group.[2] In 2014, Sycamore split Jones into six different companies: Nine West Group, One Jeanswear Group, Jones New York, the Kasper Group, Stuart Weitzman and Kurt Geiger. The Jones Group was renamed Nine West Holdings and became parent to Nine West Group and One Jeanswear Group.[3] Later in 2014, Anne Klein, Easy Spirit and NW Jewelry Group were split into separate operating companies of Nine West.[4]

In 2014, Brian Atwood was sold to Steve Madden.[5] In 2015, Stuart Weitzman was sold to Coach and Jones New York was sold to Authentic Brands Group.[6][7]

In December 2016, Easy Spirit was sold to Marc Fisher Footwear.[8] The Kasper Group was then purchased and incorporated under the parent company Nine West Holdings in January 2017.[9] In January 2017, the company appointed Joel Oblonsky as the CEO of the company.[10]

Bankruptcy[edit]

Nine West Holdings filed for chapter 11 bankruptcy in April 2018.[11] In July 2018, the namesake Nine West brand, as well as the Bandolino shoe brand, were sold to Authentic Brands Group.[12] Bondholders have accused Sycamore Partners, the private equity firm that purchased Nine West Holdings in 2014, of carving out valuable company assets to sell to itself, thus ensuring a profit for the fund even as the company itself headed toward bankruptcy, and argue that the company could be hurt if Sycamore-owned department store chain Belk threatens to refuse to buy from the company if the bankruptcy settlement isn't approved.[13]

Brands[edit]

Nine West Holdings' brands include:

  • Anne Klein
  • Bandolino
  • Nine West
    • Enzo Angiolini
    • Circa Joan & David
  • The Jewelry Group (Formerly NW Jewelry)
  • ONE Jeanswear Group
    • Energie
    • Gloria Vanderbilt
    • GLO Jeans
    • Jessica Simpson Jeanswear
    • l.e.i.
    • Bandolino
  • The Kasper Group[14]
    • Albert Nipon
    • Anne Klein
    • Evan Picone
    • Kasper
    • Le Suit
    • Nine West
    • Martha Stewart
  • Daisy Fuentes
  • Skinny Girl

References[edit]

  1. ^ Clark, Evan (19 December 2013). "Sycamore to Buy The Jones Group in $2.2B Deal". WWD. Retrieved 20 December 2013.
  2. ^ a b "Sycamore Completes Acquisition of The Jones Group". WWD. 9 April 2014. Retrieved 9 April 2014.
  3. ^ Sycamore Partners Establishes Four Additional Independent Companies in Organizational Realignment of The Jones Group
  4. ^ Sycamore’s Nine West Footwear Group to Split Into Four Companies
  5. ^ Steve Madden Acquires Brian Atwood
  6. ^ Coach Expands Luxury Fashion Brand Buying Shoemaker Stuart Weitzman
  7. ^ Jones New York finds a new home
  8. ^ http://footwearnews.com/2017/business/mergers-acquisitions/marc-fisher-footwear-buys-easy-spirit-brand-shoes-fashion-industry-merger-acquisition-291358/
  9. ^ Inc., Nine West Holdings,. "Nine West Holdings to Acquire the Kasper Group". www.prnewswire.com. Retrieved 2017-01-27.
  10. ^ Butler-Young, Sheena (2017-01-31). "Industry Moves: January 2017". Footwear News. Retrieved 2018-01-30.
  11. ^ Ducharme, James (2018-04-06). "Nine West Holdings Files for Chapter 11 Bankruptcy". Fortune. Retrieved 2019-02-10.
  12. ^ DiNapoli, Jessica (2018-06-11). "Authentic Brands beats DSW in auction for Nine West: sources". Reuters. Retrieved 2019-02-10.
  13. ^ Howland, Daphne (2019-01-17). "Nine West bondholders object to Sycamore settlement". Retail Dive. Retrieved 2019-02-10.
  14. ^ "OUR BRANDS". The Kasper Group. Retrieved 2017-01-27.

External links[edit]