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Jones Group ends talks on possible jeanswear sale

Jones Group ends talks on possible jeanswear sale

The Jones Group Inc. _ with brands including Nine West, Anne Klein and others _ has ended talks on the potential sale of its jeanswear division.
In October, Jones Group announced that it was in talks with Israeli clothing maker Delta Galil Industries Inc. about selling its jeanswear unit for between $350 million and $400 million. Jones Group said at the time that a deal had not been reached between the two parties and that there could be no assurances that a deal would result from of the talks.
Delta Galil said Monday that it was unable to reach mutually acceptable terms on a deal with Jones Group.
Jones Group said separately that it plans to maintain ownership of the jeanswear division and continue its normal operations.
The jeanswear division accounted for $817.9 million of Jones' $3.3 billion in 2010 revenue. Jones Group is based in New York.


Updated : 2021-06-14 22:30 GMT+08:00