Cha-ching!
Jessica Simpson just brokered her most lucrative business deal to date, agreeing to sell a 50 percent stake of her brand to Sequential Brands Group, Inc.
Previously managed by the Camuto Group, Simpson’s eponymous brand, which includes clothes, shoes, and home goods, has raked in $1 billion dollar in sales annually since 2005.
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“I am extremely honored 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.”
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Simpson, 34, still plans to be involved wholeheartedly throughout the transition.”I’m as committed as I was ten years ago. Here’s to the next billion,” she said.
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This article originally appeared on Usmagazine.com: Jessica Simpson Sells Stake in Her Fashion Brand: “Here’s to the Next Billion”
