Sequential Brands Group, Inc. announced today that it has signed a definitive agreement to acquire a majority interest in the Jessica Simpson brand, including the Jessica Simpson Collection master license and other rights. Brand Founder Jessica Simpson, who selected Sequential as her new business partner, will continue to own the balance of the equity. The transaction, which is expected to close within 90 days, is subject to customary closing conditions and regulatory approvals.
Founded in 2005, the Jessica Simpson Collection is a signature lifestyle concept inspired by and designed in collaboration with Jessica Simpson. The growing brand offers 31 product categories including footwear, apparel, fragrance, fashion accessories, maternity apparel, girls clothing and a home line. The brand is supported by nearly 20 best-in-class licensees and has strong department store distribution through Dillard’s, Macy’s, Belk, Lord & Taylor and Nordstrom, among other independent retailers. Annual retail sales for the brand are approximately $1 Billion.
“I am extremely honored to partner with Sequential Brands Group to continue the growth and integrity of the Jessica Simpson Collection,” said Ms. Simpson. “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. I’m as committed as I was ten years ago. Here’s to the next billion.”
Tina Simpson, Creative Director of The Jessica Simpson Collection, will continue to be an integral part of Ms. Simpson’s LA based team.
“Jessica Simpson is an entertainment and style icon who successfully built an incredibly strong fashion brand with best-in-class licensees and leading retail partners,” stated Yehuda Shmidman, CEO of Sequential. “Sequential is thrilled to partner with Jessica, her team and all the brand’s licensing partners, including Camuto Group for footwear. Together with Sequential’s global activation platform, we believe the brand will continue to grow in current markets and in new markets around the world.”
Concurrently with the closing, Camuto Group’s master license for the Jessica Simpson Collection will be replaced with a newly signed long-term license agreement to manufacture and distribute footwear.
Alex Del Cielo, CEO of Camuto Group, commented, “We are excited to work with Sequential and to continue working closely with Jessica and the Jessica Simpson brand. We have enjoyed many years of success with Jessica and we are committed and looking forward to many more years ahead.”