Jessica Simpson has revealed that she once considered borrowing against her homes in order to regain full ownership of her brand, Jessica Simpson Collection.
A majority share of the Jessica Simpson Collection was purchased by Sequential Brands Group Inc. back in 2015, which left Jessica and her mother Tina with only a minority stake of 37.5% in the company.
Simpson, who successfully regained control over the billion-dollar empire in October, told Bloomberg Businessweek that her and her mother commenced their two-year battle for ownership in 2019.
The Jessica Simpson Collection, a lifestyle brand that produces shoes, clothing, fragrances, and other items for women, was launched in 2005 and is directly inspired by and designed by Simpson, 41.
All in: Jessica Simpson has revealed that she once considered borrowing against her homes in order to regain full ownership of her brand, Jessica Simpson Collection
On that fateful 2019 day, Jessica was 34-weeks into her pregnancy with her third child, daughter Birdie Mae, and had been hospitalized with a severe case of bronchitis.
She told the outlet that it was then that her and her mother, who is her longtime business partner and president of the brand, began their ownership quest.
‘We’ll borrow against our homes,’ said Jessica, who emphasized to the outlet that she would do almost anything to regain control of the Jessica Simpson Collection.
‘Even if I have to go live in a little, tiny place in Ireland, I will.’
Taking over: Simpson, who successfully regained control over the billion-dollar empire in October, told Bloomberg Businessweek that her and her mother commenced their two-year battle for ownership in 2019; Jessica and Tina pictured in 2018
With luck on their side, Jessica and Tina would discover that same year that Sequential Brands Group Inc. – who’d purchased their majority share of the brand from Camuto Group in 2015 – was struggling financially.
The dynamic duo reportedly contacted Sequential Brands Group Inc about their plans to regain full ownership because Jessica did not want to see her ‘name’ tarnished.
‘My name was on it. I don’t ever move away from my name,’ she stressed.
By August 2021, Sequential Brands Group Inc. would file for Chapter 11 bankruptcy protection.
Her name: The Jessica Simpson Collection, a lifestyle brand that produces shoes, clothing, fragrances, and other items for women, was launched in 2005 and is directly inspired by and designed by Simpson, 41; Jessica pictured in 2020
According to Bloomberg in September, Simpson had reportedly offered to buy the brand out of bankruptcy for $65 million.
Just one month later, Jessica successfully became the CEO of the Jessica Simpson Collection after two-years of determination to reclaim the brand.
In an interview with Footwear News after the victory, Jessica gushed that it ‘means the absolute world to me to be able to take over complete ownership of my brand.’
‘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.’
Determined: ‘We’ll borrow against our homes,’ said Jessica, who emphasized to the outlet that she would do almost anything to regain control of the Jessica Simpson Collection. ‘Even if I have to go live in a little, tiny place in Ireland, I will’
Taking to Instagram on Thursday, the Public Affair songstress proudly shared her Bloomberg Businessweek cover story with her 5.7million followers.
‘Patience, passion, persistence, prayer, throwin’ curve balls and Hail Marys while remaining humbled by grace gave me back my power and my name,’ she began in her caption.
For her cover shot, Jessica was glammed up with full hair and makeup and she rocked a chic black mockneck sweater.
She continued: ‘If this girl with a dream could do it, I know anyone can! Thank you @businessweek for the honor of an epic cover story I will be framing!’
Means the world: In a statement to Footwear News after the victory, Jessica gushed that it ‘means the absolute world to me to be able to take over complete ownership of my brand’