Jones Apparel and Steven Madden Ink Licensing Deal
Jones Apparel Group Inc. expands its l.e.i. franchise by signing an exclusive license agreement with Steven Madden Ltd., which will design, manufacture and distribute a collection of junior and girls' footwear under the l.e.i. brand. The collection will be distributed exclusively to Wal-Mart stores nationwide beginning spring 2009.
Wesley R. Card, Jones Apparel Group president and chief executive officer, states, "l.e.i. footwear is the first of many planned category extensions intended to leverage the strength of l.e.i. as a branded resource across relevant categories together with Wal-Mart. We believe the junior and girls' customers recently discovering l.e.i. at Wal-Mart will be excited to accessorize their denim with trend right footwear at affordable prices. We are pleased to enter into this agreement with Steven Madden, Ltd. to deliver footwear positioned consistent with our brand strategy and which will exceed the l.e.i. customer's expectations shopping at Wal-Mart."
Wesley R. Card, Jones Apparel Group president and chief executive officer, states, "l.e.i. footwear is the first of many planned category extensions intended to leverage the strength of l.e.i. as a branded resource across relevant categories together with Wal-Mart. We believe the junior and girls' customers recently discovering l.e.i. at Wal-Mart will be excited to accessorize their denim with trend right footwear at affordable prices. We are pleased to enter into this agreement with Steven Madden, Ltd. to deliver footwear positioned consistent with our brand strategy and which will exceed the l.e.i. customer's expectations shopping at Wal-Mart."