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Jones Group looks to sell jeanswear division

US brand house Jones Group, owner of UK footwear retailer Kurt Geiger, is rreportedly in discussions to sell its jeanswear division.

According to reports Jones Group, which owns brands Bandolino, Nine West, Anne Klein and GLO Jeans, is in discussion with Israeli-based manufacturer Delta Galil Industries about a potential sale of its jeanswear division for between $350m-$400m (£223.8m - £255.8m).

Jones’ US wholesale jeanswear division comprises of the Gloria Vanderbilt, Energie, L.E.I, Jessica Simpson, Erika, Glo, Grane, Bandolino jeans and Nine West jeans brands and it is understood that should a sale be reached, Jones may use a substantial portion of the net proceeds to conduct a share repurchase.

Jones Group said no decision on the sale had yet been reached.

In June Jones Group bought footwear retailer Kurt Geiger for £215m.

 

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