Barnstorming a New Identity
What’s in a name? When it comes to fashion branding, a lot.
Dress Barn—the Suffern, New York–based company that operates stores under the Maurices, Justice, and Dressbarn nameplates—is looking to change its corporate name.
The name change is part of a company-wide reorganization, which requires shareholder approval. If approved, by Jan. 1, Dress Barn Inc. will be known as Ascensa Retail Group Inc. and will be based in Delaware.
Dress Barn President and Chief Executive Officer David R. Jaffe said the Ascensa name “should provide an image more closely aligned with our current vision and strategies.”
The new rebranding effort comes on the heels of strong sales for the chain, which picked up the Justice stores when it acquired Tween Brands in late 2009. Today, Dress Barn operates 2,473 stores, including 840 Dressbarn shops, 749 Maurices stores and 884 Justice stores. The company reported a 78 percent increase in consolidated net sales for the fourth quarter of 2010 to $710.9 million—$245.6 million of which were racked up by Justice stores. Consolidated comp-store sales for the chain increased 7 percent. Net sales for the year increased 59 percent to $2.4 billion.
