Sequential Brands Group, the parent company of the Jessica Simpson Collection fashion line, filed for Chapter 11 bankruptcy in August. Now, Simpson and her mother Tina Simpson are regaining complete ownership of the brand, according to an exclusive from Footwear News.
When Sequential Brands Group purchased a majority share from Camuto Group in 2015, Jessica and Tina owned a minority stake (37.5%) in the company. With this update to the brand, Jessica and Tina regained total ownership of the fashion label.
“For all of our hard-working, talented, amazing licensing partners, to know Jessica is at the helm gives them strength and belief in the future," Tina Simpson told Footwear News. "And for Jessica to regain control of her namesake brand, it allows her and I, alongside our amazing team, licensing and retail partners to build the legacy brand to carry on to her children and family."
"It means the absolute world to me to be able to take over complete ownership of my brand," Jessica Simpson told Footwear News. "After 16 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."