Jessica Simpson, the reality TV star/singer/designer whose fashion brand flourished under Camuto Group to the tune of $1 billion in retail sales, is changing hands.
Sequential Brands Group Inc., has signed a definitive agreement to acquire a majority stake in the Jessica Simpson brand, including the Jessica Simpson Collection master license and other rights, for an undisclosed amount of cash and stock. Simpson, 34, chose Sequential as her new business partner and will continue to own the balance of the equity of her company.
According to sources, Sequential is looking to build Simpson’s empire into a $2 billion to $3 billion operation, with a focus on international growth.
Asked which categories she would still like to add, Simpson said, “It’s humbling to think that we now have 31 product categories in the Collection. Together with my mom, Tina, and the rest of the JS team, we are always looking for new ways to reach our consumers. I have a passion for home design, so I’m excited to expand on our home and lifestyle offerings. I also look forward to further developing our e-commerce site and taking our brand all over the world.” She also said she looks forward to having her own freestanding stores both in the U.S. and abroad “where I can dress a woman from head to toe, while offering them a more complete experience of who I am.”
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