Jones Clothing Group, the United States increased replenishment of Hong Kong CRI

The New York-based Jones Clothing Group recently announced a $ 15 million increase in the acquisition of a 15% stake in Hong Kong's GRI Group to increase its stake in the company to 25%. This move was another major move after Jones Garment Group announced its stake in GRI Group as a minority shareholder last year. The latter is the exclusive agent for several key Jones brands in Asia and Europe. "We believe that the Asian market is growing rapidly, especially in China, and although Asia is also affected by the financial crisis, we will continue our strategy in Asia and expand our investment in GRI." Wesley R. Cardb, President and CEO, Jones Apparel Group, said . "A thriving Asian market represents a great opportunity for retailers and we are thrilled to receive the support of a reputable retailer like Jones to work together to expand the brand we work with," said Jeffrey Fang, CEO of GRI Group. Jones Apparel Group, Inc. is one of the largest apparel groups in the United States. Its products include women's sportswear, suits and dresses, casual sportswear and men's, women's and children's jeans, women's shoes and accessories. The company seeks multi-brand strategies including Jones New York, Nine West, Evan-Picone, Rena Rowan, and licensed brands Lauren by Ralph Lauren and Polo denim. The company in 2008 sales of more than 3.5 billion US dollars. Located in Hong Kong, GRI is one of the fastest growing brand management companies with more than 30 international brands, including its own brand and agency brand, and each brand has its own unique market positioning. Including Lucky Brand Jeans, Steve Madden; EQ: IQ, Sole Alliance, Izod, Nine West, Joan & David, Francesco Biasia, Anne Klein New York, PRINGLE OF SCOTLAND and others.