Jessica Simpson regains full ownership of billion-dollar namesake fashion brand
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Jessica Simpson is back helming her billion-dollar brand.
The singer and actress, 41, is once again in charge of her popular Jessica Simpson Collection after its parent company, Sequential Brands Group Inc., filed for Chapter 11 bankruptcy protection back in August.
Since the filing, Simpson and her mother, Tina Simpson, have been hard at work behinds the scenes getting the actress and singer her company back as she only owned just over a third of the brand – 37.5% – at the time Sequential Brands Group Inc. purchased a majority share from Camuto Group in 2015.
"It means the absolute world to me to be able to take over complete ownership of my brand," Simpson told Footwear News.
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The Jessica Simpson Collection is reportedly comprised of over 30 product categories. (Photo By John Simpson / Getty Images)
"After 16 years in business, I feel ready to meet this next exciting phase with open arms. I know the sky is the limit when my mom, our incredible team and I lock into our customers completely."
Bloomberg reported in September that Simpson offered up $65 million to buy the brand back at auction.
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Meanwhile, Tina Simpson pressed that the second stint as sole owner of the Jessica Simpson Collection creates a renewed energy for the future of the business.
"For all of our hard-working, talented, amazing licensing partners, to know Jessica is at the helm gives them strength and belief in the future," she told the outlet. "And for Jessica to regain control of her namesake brand, it allows her and I, alongside our amazing team, licensing and retail partners to build the legacy brand to carry on to her children and family."
Jessica Simpson and her mom Tina Simpson regained ownership of the Jessica Simpson Collection after parent company Sequential Brands Group Inc. filed for bankruptcy in August. (Photo by Taylor Hill/FilmMagic / Getty Images)
The brand is comprised of over 30 product categories, according to Forbes. In 2014, the outlet also noted that the brand brings in about $1 billion per year at retail.
Simpson said she credits her brand’s longevity to the mentorship and guidance she received from late shoe designer Vince Camuto – who she said was an early adopter and saw a vision for her success.
Simpson said she credits her brand’s longevity to the mentorship and guidance she received from late shoe designer Vince Camuto. (Photo by Amy Sussman / Getty Images)
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"Never in my wildest dreams could I fathom 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."
The other brands that fall under Sequential Brands include William Rast, Joe’s Jeans, Gaiam, Avia, AND 1 and SPRI.