Million Wishes Press Release
NEW
YORK, Oct. 24 /PRNewswire-FirstCall/ -- Jones Apparel Group, Inc.
(NYSE: JNY) announced today a direct selling initiative called Million
Wishes that
will bring accessories into a home selling environment. Million
Wishes is a nationwide party plan program that provides significant
sales opportunity. Million Wishes will bring the latest accessory
trends directly to the consumer and at the same time offer a one-of-a-kind
business opportunity for entrepreneurial women to bring a great
shopping experience to their network of friends and neighbors. For
decades, Jones Apparel Group has been listening to women and researching
their shopping preferences. Women have been wishing for a convenient,
edited selection of the latest trends in accessories combined with
fashion advice and know-how that only a leader in the industry can
offer. Women also wish for the flexibility, financial freedom, and
independence that Million Wishes will deliver. Million Wishes style
consultants will sell jewelry, handbags, belts, scarves and other
key accessories of the season, while educating women on the latest
fashion trends. Million Wishes style consultants will demonstrate
multiple ways to wear the items and how to make them work for each
individual, emphasizing a feeling of confidence and polish, all
in the comfort of a hostess's home. The first catalog will debut
in March 2006 with 200 to 300 items. New product will be introduced
in semi-annual catalogs in March and September. Rhonda Brown, President
and Chief Executive Officer, Footwear, Accessories and Retail Group,
stated, "Million Wishes provides the Company with an alternative
distribution channel, providing a network to target consumers who
wish to combine the shopping experience with a social setting. We
are optimistic that this could provide attractive profitable growth
as we build our presence in the channel." "Women are often
overwhelmed with fashion choices," said Betty Palm, President
of Million Wishes. The solution is Million Wishes; women can now
experiment with the latest fashion trends by trying on products
and experimenting with new looks while getting positive feedback
from their friends." A corporate website will enable style
consultants to conduct all business transactions online. Personal
websites for consultants will be available as an additional business
management tool. The goal is to make the business end as user-friendly
and streamlined as possible, so the consultant can concentrate on
sales and education. Unlike other party plan companies, Million
Wishes will ship direct to consumers, reducing the burden on the
hostess. "Million Wishes will offer women nationwide the opportunity
to become entrepreneurs and still enjoy the freedom of having a
personal life," added Ms. Palm. Million Wishes plans to recruit
3,000 style consultants in 2006. A host of advertising, launch events
and other public relations tools will be involved in launching Million
Wishes. Research has proven that direct selling can be a profitable
entity for Jones Apparel Group, and Million Wishes is expected to
have 9,000 consultants in 3 years.
Jones Apparel Group, Inc. (http://www.jny.com), a Fortune 500 company,
is
a leading designer, marketer and wholesaler of branded apparel,
footwear and
accessories. We also market directly to consumers through our chain
of
specialty retail and value-based stores, and operate the Barneys
New York
chain of luxury stores. Our nationally recognized brands include
Jones New
York, Evan-Picone, Norton McNaughton, Gloria Vanderbilt, Erika,
l.e.i.,
Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan
& David,
Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper,
Anne Klein,
Albert Nipon, Le Suit and Barneys New York. The Company also markets
apparel
under the Polo Jeans Company brand licensed from Polo Ralph Lauren
Corporation, costume jewelry under the Tommy Hilfiger brand licensed
from
Tommy Hilfiger Licensing, Inc. and the Givenchy brand licensed from
Givenchy
Corporation and footwear under the Dockers Women brand licensed
from Levi
Strauss & Co. Each brand is differentiated by its own distinctive
styling,
pricing strategy, distribution channel and target consumer. We primarily
contract for the manufacture of our products through a worldwide
network of
quality manufacturers. We have capitalized on our nationally known
brand names
by entering into various licenses for several of our trademarks,
including
Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria
Vanderbilt
and l.e.i., with select manufacturers of women's and men's products
which we
do not manufacture. For more than 30 years, we have built a reputation
for
excellence in product quality and value, and in operational execution.
Certain statements
contained herein are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995.
All statements regarding the Company's expected financial position,
business
and financing plans are forward-looking statements. The words "believes,"
"expects," "plans," "intends," "anticipates"
and similar expressions identify
forward-looking statements. Forward-looking statements also include
representations of the Company's expectations or beliefs concerning
future
events that involve risks and uncertainties, including:
- those associated with the effect of national and regional economic
conditions;
- lowered levels of consumer spending resulting from a general economic
downturn or lower levels of consumer confidence or generally reduced
shopping activity caused by public safety concerns;
- the performance of the Company's products within the prevailing
retail
environment;
- customer acceptance of both new designs and newly-introduced product
lines;
- the Company's reliance on a few department store groups for large
portions of the Company's business;
- consolidation of the Company's retail customers;
- financial difficulties encountered by customers;
- the effects of vigorous competition in the markets in which the
Company
operates;
- the Company's ability to identify acquisition candidates and acquire
such businesses on reasonable financial and other terms, in an
increasingly competitive environment for such acquisitions;
- the integration of the organizations and operations of any acquired
businesses into the Company's existing organization and operations;
- the Company's reliance on independent foreign manufacturers;
- changes in the costs of raw materials, labor and advertising;
- the general inability to obtain higher wholesale prices for the
Company's products that the Company has experienced for many years;
- the uncertainties of sourcing associated with the new environment
in
which quota has been eliminated on apparel products while political
pressure is building for the re-imposition of quotas in certain
categories; and
- the Company's ability to secure and protect trademarks and other
intellectual property rights.
A further description
of these risks and uncertainties and other important
factors that could cause actual results to differ materially from
the
Company's expectations can be found in the Company's Annual Report
on Form 10-
K/A for the fiscal year ended December 31, 2004, including, but
not limited
to, the Statement Regarding Forward-Looking Disclosure and the information
concerning trends and risk factors included in Management's Discussion
and
Analysis of Financial Condition and Results of Operations therein,
and in the
Company's other filings with the Securities and Exchange Commission.
Although
the Company believes that the expectations reflected in such forward-looking
statements are reasonable, such expectations may prove to be incorrect.
The
Company does not undertake to publicly update or revise its forward-looking
statements as a result of new information, future events or otherwise.
SOURCE
Jones Apparel Group, Inc.
Million
Wishes Profile |
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