Jessica Simpson regains full ownership of eponymous billion-dollar fashion label
Jessica Simpson is back at the helm of her billion dollar brand.
The singer and actress, 41, is back in charge of her popular Jessica Simpson collection after her parent company, Sequential Brands Group Inc., filed for Chapter 11 bankruptcy in August.
Since filing, Simpson and her mother, Tina Simpson, have worked hard behind the scenes to get the actress and singer back from her company as she only owned just over a third of the brand – 37.5% – at the era Sequential Brands Group Inc.. bought a majority stake in the Camuto group in 2015.
“It means the absolute world to me to be able to take full ownership of my brand,” Simpson told Footwear News.
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“After 16 years in business, I feel ready to face this exciting next phase with open arms. I know the sky is the limit when my mom, our amazing team and I completely lock up our clients.”
Bloomberg reported in September that Simpson offered $ 65 million to buy the brand at auction.
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Meanwhile, Tina Simpson insisted that the second stint as sole owner of the Jessica Simpson collection creates renewed energy for the company’s future.
“For all of our hard-working, talented and amazing license partners, knowing that Jessica is at the helm gives them strength and confidence for the future,” she told point of sale. “And for Jessica to regain control of her eponymous brand, it allows her and me, alongside our great team, our licensing and retail partners, to build the legacy brand to carry on with it. of his children and his family. “
The brand includes more than 30 product categories, according to Forbes. In 2014, the outlet also noted that the brand was making around $ 1 billion a year at retail.
Simpson said she attributes the longevity of her brand to the mentorship and advice she received from late shoe designer Vince Camuto – who she says was an early adopter and saw a vision for her success. .
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“Never in my wildest dreams could I have imagined being part of a true lifestyle collection brand that has been at the top of its game for 16 years, but Vince could,” she said. “After six months in the business, Vince knew.”
Other brands that fall under sequential brands include William Rast, Joe’s Jeans, Gaiam, Avia, AND 1, and SPRI.