Jones Apparel Group, Inc., has acquired Judith Jack, a manufacturer and distributor of women’s jewelry, including marcasite and sterling silver products. Judith Jack distributes products principally under the Judith Jack brand name to department stores and specialty retailers, including Neiman Marcus and Saks Fifth Avenue. Both companies are based in New York.
”The acquisition of Judith Jack adds one of the premier designer brand names in the jewelry industry to our existing brand portfolio,” said Sidney Kimmel, Jones Apparel Group chairman in a statement.
Judith Jack will operate as a division of Victoria & Co., Jones Apparel Group’s existing jewelry company, said Wesley Card, chief financial officer.
Judith Jack reported net sales of $22 million in 2000.
”As a leading luxury resource in the bridge market, Judith Jack will expand the reach of Victoria & CO into new market segments for incremental growth,” Patricia Stensrud, vice chairman and CEO, Victoria & Co., said in the statement.
In related news, Jones Apparel Group reported a 35% increase in first-quarter earnings boosted by sales of the company’s brand-name apparel, footwear, and accessories.
Income for the quarter, ended April 7, was $96 million, or 75 cents per diluted share, up from $71 million, or 58 cents per share, in the corresponding quarter a year earlier.
Excluding discontinued businesses, revenues for the quarter increased by 9% to $1.07 billion from $975 million.
Jones Apparel Group, Inc. is a leading designer and marketer of branded apparel, footwear and accessories. The company’s brands include Jones New York, Nine West, and Polo Jeans Co.