Business Services Industry
Bristol, Pa., Business-Apparel Firm to Buy Clothing Company Geared to Teens.
Knight Ridder/Tribune Business News, July, 2002
By Jane M. Von Bergen, The Philadelphia Inquirer Knight Ridder/Tribune Business News
Jul. 11--Jones Apparel Group Inc., the Bristol company that made its reputation on business clothing for career women, yesterday agreed to spend $385 million to buy RSV Sport Inc., whose mid-priced l.e.i. jeans cater to girls and young women.
"We've made a clear and pointed effort to increase our penetration in moderate (priced lines of clothing)," said Jones president and chief executive Peter Boneparth in a analysts' conference call yesterday.
"We have clearly said we like the junior business," he said, adding that l.e.i. fits into Jones' expansion into the rapidly growing category of apparel for teenagers and young women.
Jones will acquire RSV...
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