Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

The Associated Press May 6, 2010, 4:17PM ET

Jones Apparel buys stake in Stuart Weitzman

Jones Apparel Group Inc. will acquire a majority stake in shoemaker Stuart Weitzman LLC for $180 million, the clothing company said Thursday.

Under the terms of the deal, Jones Apparel will make cash payments to Stuart Weitzman shareholders, which include private-equity firm Irving Place Capital.

Jones Apparel already owns brands such as Jones New York, Nine West, Anne Klein and Easy Spirit.

At the end of 2012, Jones Apparel will buy the remaining 45 percent of Stuart Weitzman, based on the company's value at the time.

Stuart Weitzman, which has net revenue of $193 million during the most recent fiscal year that ended Jan. 2, is known for its high-end shoes and purses.

Designer Stuart Weitzman will continue as executive chairman of his eponymous brand while current president Wayne Kulkin will remain in his role as well.

The deal is expected to close within 30 business days.

Jones Apparel shares fell 85 cents, or 4.1 percent, to 20.01 in late afternoon trading Thursday.

BW Mall - Sponsored Links

Buy a link now!