The Robert Rodriguez brand just keeps on getting bigger. After Jones Apparel Group Inc. bought 50 percent stake in Rachel Roy in 2008, the company acquired Moda Nicola International LLC, which owns the Robert Rodriguez Collection.
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Jones' plan is to expand the women's contemporary sportswear and eveningwear label and grow the name in its 600 stores, which include Nordstrom, Neiman Marcus and Saks Fifth Avenue. The $28 million deal started this past fall and has grown within the Jones Group, Rodriguez and his business partner, Nicola Guarna.
Guarna expects the new owners will help bring the label to another level. “It will give us opportunities in different categories,” Guarna said. “We believe in the Jones culture, and that’s what Robert’s and my decision was based on. “We are looking into accessories, shoes and handbags. It’s our second season with necklaces, and we want to build that category even more,” Guarna also said.
Source, Photo: WWD.com