JESSICA SIMPSON’s billion-dollar brand has been sold by its owners, Camuto. The label has been picked up by Sequential Brands Group, which is set to expand it internationally into a two-to-three-billion-dollar company.
The company signed an 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,” WWD reports. The singer and reality television star-turned-designer will continue to own the remainder of the company.
“It’s humbling to think that we now have 31 product categories in the collection,” Simpson said following the announcement. “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.”
Source News: Vogue
Pictures credit: Getty