Men's apparel retailer Grafton-Fraser announced the acquisition of 35 Jones New York retail stores in Canada. The acquisition is part of the company's larger growth plan for the near future.
Jones New York announced in January that it would close all 127 stores by the end of 2015, The Canadian Press reported. Grafton-Fraser has signed a deal with Jones New York's parent company Authentic Brands Group—which owns brands such as Juicy Couture and Frederick's of Hollywood—in order to continue operation of Jones New York's e-commerce business in Canada.
Canadian retailer Grafton-Fraser operates brands such as Tip Top Tailors, George Richards Big & Tall, Mr. Big & Tall, and Kingsport.
"We are very excited to add Jones New York women's clothing stores to our growing fashion retail portfolio," Grafton-Fraser President and CEO Dave McGregor told The Canadian Press. "For more than two decades Jones New York has been a trusted fashion brand in Canada that women have looked to for its timeless elegance, great quality and style."
While Grafton-Fraser is adding a women's retailer to the mix, other apparel retailers have recently pledged to focus on expansion of menswear collections, including Lululemon, Barneys and Bergdorf Goodman.
-See this The Canadian Press article
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