Jones Jewelry Group Inc history

1976: Company begins aggressive growth through new brand introductions and high-tech manufacturing.

In 1981, for example, Jones became one of the first apparel designers in the United States to start using a computer-aided design (CAD) system and to employ a systems manager, Maureen Behl, in its design department.

In 1987, moreover, sales plunged 32 percent, to $177 million, for a net loss of $6 million.

As demand surged and operating costs fell, Jones Apparel posted a 25 percent sales gain in 1989, to $212 million, as net income soared to nearly $13 million.

In 1990, moreover, income approached $30 million from revenues of $290 million.

Sales rose to $334 million in 1991 and then to $436 million one year later.

A partnership with Madison Maidens resulted in Jones New York Intimates, which debuted a line of sleepwear, robes, loungewear, bras and panties in early 1995.

Jones updated its Evan-Picone lines, and by 1996 had launched Jones Sport, Jones & Co., Jones New York Country, Jones Studio, and Jones Jeans.

The deal did not please Jones Apparel shareholders; Nine West had been in financial straits following slumping sales and an SEC investigation into its accounting practices, and had cut two-thirds of its work force since 1997.

In 2000, Jones acquired Victoria & Co. for $90 million, a company whose brands represented 20 to 45 percent of the market share in retail fashion jewelry.