Jessica Simpson Sells Her Billion-Dollar Brand & Plans To Take It International
Back in 2005, the founder and executive of Camuto Group, Vince Camuto, bought Jessica Simpson’s brand for $15 million and ever since then, Simpson was able to grow her brand into a billion-dollar company. Recently, Simpson’s brand was bought by Sequential Brands Group to further expand it into a two-to-three-billion-dollar company by stretching the brand internationally.
Simpson still owns the majority of the company, but signing part of her brand to Sequential Brands Group has given them the, “majority stake in the Jessica Simpson brand, including the Jessica Simpson Collection master license and other right, for an undisclosed amount of cash and stock,” as it was stated on WWD.
As it’s a pretty huge task to expand a brand internationally, you would think that this Daisy Duke would at least be a little nervous, but Simpson is approaching it fearlessly and positively. According to Vogue, Simpson said, “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.”
Simpson first hit her billion-dollar goal in 2012 and it’s great to see her passion and excitement fueling her company to greater extents. I’m definitely hoping to see some of her international designs at next year’s Fashion Month.