Jones Apparel buys stake in Asian distributor GRI (at bizjournals.com)

said Monday it has acquired for an undisclosed price a minority interest in a company that distributes its products in Asia. Jones (NYSE: JNY) said GRI Group Ltd. has "been instrumental in establishing our brands abroad." GRI is the exclusive licensee of Jones brands including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan and David in Asia. A Jones representative has joined the board of GRI. With the move, Jones Apparel sees growth potential, as Asian consumers have been especially receptive to footwear and accessories brands. Jones President and CEO Wesley R. Card said "we are eager to grow our apparel brands in the region in a more meaningful way." Jones Apparel, which is based in Bristol, Pa., has partners in 60 countries, getting products into 1,000 retail locations... [read full story]