Jones Apparel Group has acquired an additional 15% interest in GRI Group for $15 million, increasing its ownership interest in GRI to 25%.

GRI Group is the exclusive licensee of several of Jones' brands in Asia, including Nine West, Anne Klein New York, AK Anne Klein, Easy Spirit, Enzo Angiolini and Joan & David. In addition to these Jones brands, GRI Group also distributes a series of well known ladies apparel, shoes and accessory brands such as Pringle of Scotland, EQ:IQ, Francesco Biasia, Steve Madden, Lucky Brand Jeans, and others.

Wesley Card, Jones Apparel Group president and chief executive officer, said: "We believe that Asia remains a high growth region and the Asian consumer continues to respond positively to our footwear and accessory brands. At the time of our initial investment in GRI, we noted that rising incomes and economic development were supporting rapid consumption growth in China. While Asia has been impacted by the worldwide recessionary environment, this continues to be the case and underscores our decision to expand our presence in this region and increase our investment in GRI."