Tags: jessica simpson | billionaire | sell | brand

Jessica Simpson's a Billionaire After Selling Stake in Her Brand?

Image: Jessica Simpson's a Billionaire After Selling Stake in Her Brand?
(Dimitrios Kambouris/Getty Images, file)

By    |   Monday, 06 Apr 2015 10:31 AM

Singer and fashion mogul Jessica Simpson hinted she's a billionaire after announcing she was selling 50 percent of her clothing brand last week by saying, "Here's to the next billion."

Simpson's brand includes clothes, shoes and home goods, and it brought in roughly $1 billion in sales annually since its launch in 2005, according to Us Weekly.

"I am extremely honored to partner with Sequential Brands Group to continue the growth and integrity of the Jessica Simpson Collection," said Simpson in a statement with Sequential. "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 10 years ago. Here's to the next billion."

Sequential Brands owns, promotes, markets and licenses a portfolio of consumer brands in the fashion, active and lifestyle categories in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world, said the statement.

"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," said Yehuda Shmidman, chief executive officer of Sequential. "Sequential is thrilled to partner with Jessica, her team and all the brand's licensing partners, including Camuto Group for footwear."

Zacks Equity Research reported Monday that the purchase appeared to catch attention on Wall Street.

"Sequential Brands Group, Inc. was a big mover last session, as the company saw its shares surge over 12 percent on the day," said Zacks Equity. "This rally higher can be attributable to the news of the company purchasing a majority stake in celebrity Jessica Simpson's brand."

"This led to solid volume with far more shares changing hands than in a normal session. This continues the most recent uptrend of the company, as the stock is now up 35.5 percent in the past one-month time frame," said Zacks Equity.

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Singer and fashion mogul Jessica Simpson hinted she's a billionaire after announcing she was selling 50 percent of her clothing brand last week by saying, "Here's to the next billion."
jessica simpson, billionaire, sell, brand
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2015-31-06
Monday, 06 Apr 2015 10:31 AM
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