Jones Apparel Group is upbeat about its newest addition and the firm’s overall prospects for the rest of 2010.
One week after revealing plans to acquire a majority stake in Stuart Weitzman, Jones’ CEO Wes Card said Wednesday during a press lunch at The St. Regis New York that the upscale brand will help Jones strengthen its position in the accessible luxury market, which is on the rebound.
“Stuart Weitzman is a footwear brand that [attracts] a broad category of consumers,” Card said. “It has a lot of opportunity for growth internationally and domestically.”
Weitzman’s involvement will be key in propelling the label’s growth, according to Card. “Stuart is an icon. He has built an incredible brand,” he said.
Richard Dickson, who joined the company in January as president and CEO of branded businesses, told reporters that acquisitions are just one part of the company’s strategy, which also includes building existing brands and licensing businesses, such as the recently launched Jessica Simpson jeans collection.
“[I’m excited] to help shape the future of brands that are so recognized,” Dickson said. “The talent is here to make some amazing things happen.”
Card said Dickson would help the company “reignite growth ideas.” “We are in a good spot to grow our core brands and add around them,” he said.
For more on Jones’ plans, see Monday’s edition of Footwear News.