Jessica Simpson brand purchased by Sequential Group

Camuto Group has relinquished their stake in the billion dollar Jessica Simpson label, and has sold it to Sequential Brands Group Inc. This marks the first major business deal that Camuto Group has made since the death of their founder Vince Camuto in January. As of the present moment, Sequential Group has not disclosed the amount of cash and stock that went into purchasing the Jessica Simpson label.

Jessica Simpson, the music superstar who is the designer for her namesake label, will own the balance of the equity in the company, and actually selected Sequential as her new partner. Simpson and Camuto collaborated together in 2005 to create the beloved line of shoes. Thanks to Camuto’s hand in the endeavor, Simpson’s line has gone on to arguably become one of the most successful celebrity lines America has seen since P. Diddy launched Sean John.

Sequential is now an owner of Jessica Simpson's brand

Sales for her brand topped 1 billion dollars last year, and she now designs products in more than 30 categories. Many may wonder what the secret to her success is, and Camuto made it clear in a 2013 interview with Footwear News. “She has a keen insight into what her customers want: exceptional value. She is committed to developing a vision and [is involved in everything,] from selecting materials to determining the prints and styles that work best for a woman’s body,” he said.

Jessica Simpson will be joining an impressive list of brands over at Sequential, including Heelys, Ellen Tracy, and fellow celebrity label William Rast, also known as Justin Timberlake’s label. Jessica Simpson could just be the beginning of acquisitions by Camuto Group, because CEO Alex del Cielo has made it clear that he intends to grow Camuto Group’s portfolio of brands. So, the question left here is, who could he be eyeing next?