Jessica Simpson Almost Risked Her $11.5 Million Home To Buy Back Her Billion-Dollar Brand Jessica Si
Business mogul Jessica Simpson said that she thought about borrowing against her homes to buy back her billion-dollar brand. During the two-year battle on retrieving her fashion empire, Simpson revealed that she took a desperate measure to salvage her billion-dollar fashion brand, which is borrowing against her homes to fund her desire to buy back the brand. It was the last ditch effort she made to make her brand hers once again.
Jessica Simpson Collection started in 2005 and reached sales of $1 billion in 2014 but was slipping in financial ruin the years that followed. The problem began when Sequential Brands Group Inc. purchased majority of the shares of her brand in 2015, leaving Simpson and her mom with only 37.5% stake putting her on the minority side. She was not at ease with the decision of someone taking over her company that is why in 2019 while in the hospital bed, she made the decision to get back what is hers. This began a two year battle between the Simpsons and Sequential Brands Group Inc.
The agreement between them was that Sequential Brands Group Inc. would continue to produce affordable lifestyle brand for the public such as shoes, clothing, fragrances and many more items for women. They promised Simpson that they would not expand under Sequential which was broken by the company. Her beloved company was put in a financial trouble and Simpson could not sleep peacefully knowing that the business she created from ground up will be in jeopardy.
In an interview with the Bloomberg Businessweek, Simpson said that she was willing to do great length to own her brand again even if it means living in a tiny place somewhere in Ireland. The decision to buy back her brand came during the time when she was already struggling in her life. She was hospitalized in 2019 while she was 34 weeks pregnant because of severe bronchitis and her daughter’s health then began to deteriorate.
She added that her daughter’s oxygen level continues to drop and she herself could not breathe properly. Jessica Simpson was hooked on an oxygen machine at the time; fortunately her health as well as her daughter’s has stabilized. When they were better and in good health, she began to focus her attention to the health of billion-dollar empire.
Sources: Daily Mail UK, NY Post, People
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