Check out a new fashion foray for Jones Apparel.
The clothing and shoe company announced a joint venture to develop, market and license fashion brand Rachel Roy, and said it owns a 50 percent stake in the venture.
The up and coming luxury fashion brand is named after its creator Rachel Roy, who is married to music mogul Damon Dash.
The remaining 50 percent interest in the joint venture with Roy, Dash and TSM Capital LLC, will be owned by those three parties.
”We see tremendous opportunity in Rachel Roy as a designer and brand,” said Wesley Card, Jones’ chief executive officer.
Stay tuned to learn more about Jones’ plans for Rachel Roy and its business in general.
Card is scheduled to attend the Reuters Consumer and Retail Summit being held in New York on June 16.
Also in the basket:
InBev courts Anheuser-Busch with mega-bid
InBev gets funding, offers olive branch to A-Busch
(Photo: Rachel Roy dress shown on http://www.net-a-porter.com/Shop/Designers/Rachel_Roy/All)
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