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 bankruptcy protection in August for Chapter 11 bankruptcy protection.
Seit the filing, Simpson and her mother, Tina Simpson have been hard at work behind the scenes getting the actress and singer her company back as she only owned a third of the brand 37.5% at the time Sequential Brands Group acquired a majority share from Camuto Group in 2015.
It means the absolute world to me to be able to take over full ownership of my brand, Simpson said on Footwear News.
After 15 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. In September, Bloomberg reported that Simpson offered up $65 million to buy the brand back at an auction.
While, Tina Simpson said 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, know Jessica is at the helm gives them confidence and faith in the future, she told the outlet. And for Jessica to regain control of her nameake brand, it allows her and I, with our amazing team, licensing and retail partners, to build the legacy brand to carry on to her children and family. The company is comprised of more than 30 product categories according to Forbes. In 2014, the outlet also noted that the brand draws more than 1 billion dollars at retail a year.
Simpson said she credits her brand 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.
On top of the game since 16 years, Vince could be a part of a brand that had never changed. Then Vince knew what he was doing after six months in the business. The other brands that fall under Sequential Brands include William Rast, Joe Jeans, Gaiam, Avia, and SPRI.