Mexx Was Acquired Jones New York Closed

According to reports, the Holland leisure fashion brand Mexx, which entered the bankruptcy process in December 2014, has just been acquired by Eroglu retail company in Turkey, which owns a series of chain retailers including Colin s and Loft.

Mexx, founded in Holland in 1986, was bought by Liz Claiborne, the Kate Spade company in 2001, and was resale to private equity The Gores Group in 2011. However, it finally declared bankruptcy at the end of last year because of its inability to return to the sky.

Eroglu group has expanded to Turkey, Russia and Eastern Europe, and plans to enter western Europe. Its chairman, Nuretin Eroglu, said it will repackage Mexx to the market, and plan to open more than 100 stores in Turkey in the next five years and achieve sales of 370 million euros.

More details will be released in mid February. Mexx has more than 300 stores in the world, some of which may be closed, part of which may belong to Colin 's or Loft company.

Last Thursday, it bought us $2 billion 200 million.

Private Equity Investment Firm Sycamore Partners of group Jones Group announced that it stopped the wholesale business of Jones New York brand and closed Jones New York all retail outlets in 2015, including 127 outlets stores.

Based on the consideration of many loyal customers, Jones New York will be introduced as a "strategic alternative brand" in the future.

According to the way, the closure of the company affected 240 employees and 120 employees were arrested on Thursday.

In addition, more than 100 employees will be laid off because of outlets's closes.

The last batch of new releases will be released in the spring of 2015, and the company's business will stop in summer.

Other brands under Jones Group, such as Kasper, Nine West, nine One, One Jeanswear, Easy Spirit and Anne Klein are not affected by this closure.

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The old Jones New York, founded in 1970s, has continued to decline in recent years.

In 2012, sales of Jones Group amounted to US $3 billion 800 million, with a net loss of US $56 million 100 thousand.

Among them, Jones New York accounted for 16.9% of total revenue, about 643 million US dollars, down 19.1% compared with the same period last year.

In 2013, sales of Jones Group amounted to US $3 billion 770 million, with a net loss of US $19 million 800 thousand.

Over the past few years, Jones New York has continued to suffer from pressure from competitive brands such as Michael Michael Kors, Calvin Klein, Lauren Ralph Lauren, and Lauren, and continues to lose a large share of the market.

Jones New York tried to relocate young people into one of the consumer groups by repositioning the brand, which made Jones New York lose many of its regular customers.

Jones New York has also tried to add high-grade fabrics to clothing production, but the market has not responded well.

Jones New York then returned to the original product positioning, but lost its original position in the retail business.

Wholesale orders and stores continued to decline.

Department stores are becoming more and more interested in international brands, and the advantages of old brands in the United States no longer exist.

For Jones New York brand acquisition, investment bank's attitude is still uncertain.

In some brand management companies, only Authentic Brands Group, Sequential Brands Group and Iconix Brand Group have enough capacity to acquire Jones New, but they still have no position.