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JONES APPAREL GROUP, INC. ANNOUNCES ACQUISITION OF THE EVAN PICONE TRADEMARK

 NEW YORK, Nov. 3 /PRNewswire/ -- Jones Apparel Group, Inc. (NYSE: JNY) today announced that its wholly owned subsidiary, Jones Investment Company, Inc., has completed its transaction with Crystal Brands, Inc. (NYSE: CBR) for the worldwide rights to the Evan Picone trademark.
 The purchase includes assignment by Crystal Brands of all of its outstanding license agreements covering the Evan Picone trademark and certain derivatives thereof. The purchase price was $30.5 million, as previously announced, plus certain contingent future royalty payments.
 Sidney Kimmel, chairman of Jones Apparel Group, Inc., stated, "We are very pleased to have completed this agreement to purchase the Evan Picone trademark as it adds another fine name to our existing group of better priced labels. We plan to maintain the positioning of the Evan Picone trademark in the better priced departments of our existing department store distribution. This positioning will complement the fine product already distributed in the better market by the current Evan Picone licensees."
 Jones Apparel Group, Inc. is a leader in the better women's sportswear and suit businesses and markets products under its flagship label Jones New York, as well as its Jones New York Sport, Jones New York Dress, Jones & Co, Jones(asterisk)Wear, Rena Rowan for Saville, Rena Rowan for Saville Sport, Rena Rowan for Saville Dress, Saville Suit and Ellen Kaye labels, and under the licensed name Christian Dior.
 /delval/
 -0- 11/3/93
 /CONTACT: Wesley R. Card, chief financial officer, of Jones Apparel Group, 215-785-4000/
 (JNY CBR)


CO: Jones Apparel Group, Inc.; Jones Investment Company, Inc.;
 Crystal Brands, Inc. ST: Pennsylvania, New York IN: TEX SU:


MJ-LJ -- PH027 -- 0299 11/03/93 16:29 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 3, 1993
Words:275
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