- Marjorie van Elven |
New York-based sportswear label Cathy Daniels has been acquired by the clothing manufacturer Jump Design Group. The two companies issued a statement today, informing that Jump Design Group has taken on all assets related to Cathy Daniels.
“We’re not on a mission to take companies that are in trouble and turn them around”, said Ashesh Amin, CEO of Jump Design Group, in the statement. “We’re on a mission to acquire companies that have a sound business portfolio, and complement them with our strategies, marketing and customer base”.
Jump Design Group focuses on womenswear, but said in the statement that it aims to expand into athleisure, sportswear and denim -- which explains the acquisition. The company also owns the brands Bebe, Jump, Marina, Onyx Nite, and Tiana B.