New York’s luxury men’s shoe store, the JNH, is being bought by American retailer Uniqlo, and the store will become a flagship outlet for the US footwear giant.
The JNHR stores have been a popular place for men to shop, with customers arriving from as far away as Brazil and the US to shop at the outlet.
Uniqlo is investing $1bn (£760m) in the new store, which will feature a new flagship store and a new location in New York.
Univision reports the deal is worth an estimated $1.1bn, and that JNHL will invest $1 billion in the company over 10 years.
UniQlo said the deal was “the most significant retail deal for the brand since its acquisition in 2014”.
It said it planned to build a “unique retail space in New Jersey”, adding it will continue to invest in its brands, brands that are aligned with its values.
The new store will feature its own “premium shoes” and a “full line of luxury and men’s shoes”, including “unique men’s footwear”, “premier women’s footwear” and “premiere men’s accessories”.
“Uniqlow’s vision for the JnH and JNHP brands is to transform our brands and provide a seamless and engaging shopping experience for customers,” the company said in a statement.
“We are committed to ensuring that our brands are seen by our customers as they are designed, built, and produced, and we are committed, as part of our mission, to ensure our brands have an impact in New Yorkers and around the world.”
Uniqloo said it would invest $300m over the next five years in the JNFH store.
The deal follows a partnership with Jnh, a luxury shoe brand that has grown from being founded in 1989 and now employs more than 5,000 people in New Zealand, France, Australia and the United States.
Jnh has a “deep passion for the world of men’s fashion” and has created brands for men and women that focus on style, comfort and durability, the company’s chief executive, David Jones, said in the statement.
Unidose, a footwear brand that is owned by Jnhl, has a range of high-end footwear and women’s clothing, which has helped it to become a global leader in women’s fashion.
Unidanose said it was “pleased” to partner with JNhl and had been “very supportive of the Jnrh team’s efforts”.
Jnrh was founded in 2014 and its brands include The Jordan Brand, Jordan X, Men’s Sports, Jnrx, Men & Co and Jordan Brand.
It employs nearly 4,000 workers in New England, New York and London, with its flagship store in New Orleans and other stores in Dubai, Singapore, Malaysia, the US and elsewhere.
Jnrx also has a presence in London, Paris, Berlin and Milan.