Jones Apparel Acquires L.A. Designer Label
Jones Apparel Group Inc., the huge clothing corporation that has been on the hunt for brands, acquired Los Angeles womenswear contemporary label Robert Rodriguez for $28 million.
Jones Apparel is hoping to expand the Robert Rodriguez name in other categories and other doors. “Recognized for its unique designs, commitment to elegant fashion, and attention to quality and fit, the Robert Rodriguez collection has gained attention from fashion insiders, including buyers, trendsetters and celebrities,” said Wesley Card, chief executive of Jones Apparel in New York. “We see great potential in this brand and look forward to working with Robert and his team.”
The deal, announced Feb. 4, has Jones making initial cash payments to the selling members of Moda Nicola International LLC, the parent company of the Robert Rodriguez label, who are entitled to receive future cash payments upon reaching certain financial targets set within the agreement.
The Los Angeles company was founded in 2003 by Robert Rodriguez, the artistic director, and his business partner, Nicola Guarna, the chief executive. They have grown their fashion venture of eveningwear, contemporary clothes and sportswear slowly over the last seven years, with revenues totaling $17 million in 2009. The collection includes Robert Rodriguez, Robert Rodriguez Black Label, and Robbi and Nikki, sold at high-end stores such as Bergdorf Goodman, Neiman Marcus, Nordstrom, Saks Fifth Avenue, Bloomingdale’s, Harrods and Lane Crawford.
Rodriguez, who studied at the Fashion Institute of Technology, has always been a fan of elegant looks, ever since his mother gave him a book on the famous French fashion designer Christian Dior. At one time, Rodriguez worked with Marc Bohan and Geri Gerald at Christian Dior.
Rodriguez’s line fits into a void that Jones Apparel has been trying to fill, stocking luxury stores and specialty boutiques with high-end goods.
Rodriguez and Guarna approached Jones last year about a deal and were able to convince the New York company that they had a product with growth potential. “I am excited to become part of a dynamic organization such as Jones and to work together to develop the brands to their fullest potential,” Rodriguez said.
Jones Apparel, more than 30 years old, has a wide range of labels encompassing everything from clothing and shoes to necklaces and accessories. Its brands include Nine West, Anne Klein, Gloria Vanderbilt, Bandolino, l.e.i., Enzo Angiolini and Albert Nipon.—Deborah Belgum
