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Jessica Simpson sells stake in her fashion brand
Singer-fashion designer Jessica Simpson brokered her most lucrative business deal to date, agreeing to sell a 50 per cent stake of her brand to Sequential Brands Group, Inc.
Los Angeles: Singer-fashion designer Jessica Simpson brokered her most lucrative business deal to date, agreeing to sell a 50 per cent stake of her brand to Sequential Brands Group, Inc.
Launching in 2005 and previously managed by the Camuto Group, Simpson's eponymous brand, which includes clothes, shoes, and home goods, rakes in about USD 1 billion dollars in sales annually, reported Us magazine.
"I am extremely honoured to partner with Sequential Brands Group to continue the growth and integrity of the Jessica Simpson Collection," she said in a statement.
"Working together with the powerful management team at Sequential and with all of our trusted retailers and licensees, including Camuto Group, there is no limit to our success," she added.