Fashion

US ‘Jessica Simpson Collection guarantees $67.5 million term loan



Second Avenue Capital Partners (SACP), the lending arm of SB360 Capital Partners (SB360), has announced the end of a $67.5 million term loan to The Jessica Simpson Collection, a $1 billion fashion empire. dollar and signature lifestyle brand inspired and designed in collaboration with Jessica Simpson.

The new financing will be used to remove existing credit and provide additional liquidity to fund new growth and rapidly expanding portfolios, the two entities said in a media release. shared.

Second Avenue Capital Partners (SACP), the lending arm of SB360 Capital Partners (SB360), has announced the end of a $67.5 million term loan to The Jessica Simpson Collection, a $1 billion fashion empire. dollar and signature lifestyle brand inspired and designed in collaboration with Jessica Simpson. It will be used to settle an existing credit.

“While this aspect of our relationship may be new, our experience with Schottenstein goes back to our roots,” says Jessica Simpson, CEO of the Jessica Simpson Collection, reflects the long history with the Schottenstein institution. Jessica Simpson launched her label in 2005 under the direction of Vince Camuto and Camuto Group. In 2018, Schottenstein led Designer Brands Group to partner with Authentic Brands Group to acquire Camuto Group.

In November 2021, Jessica Simpson and her business partner and mother Tina Simpson acquired 100% of the brand. Retaining 37.5% of the brand when Sequential Brands acquired a majority stake in 2015, Jessica, Tina and their team are determined to regain full control of the lifestyle brand they spent 16 years developing and construct.

After taking full ownership and control, the team immediately embarked on a plan to further develop the existing business and expand the brand into new categories with immediate signing in 5 categories. new licenses and 5 more classes in negotiations. The Jessica Simpson collection currently features 37 product categories including footwear, clothing, fragrances, luggage, fashion accessories, bags, jewelry, maternity wear, girls’ wear and clothing. Appliances. New endeavors will include skincare, health and wellness, jewelry and high-end furniture.

Aaron Miller, President of SB360, said, “When we were first introduced to Jessica, Tina and the team, we knew right away that it was a perfect fit. It is impressive to see what the team has achieved since their recent acquisition and we are delighted to be providing this financing to drive further growth. Jessica and Tina have spent years building a hugely successful lifestyle brand by providing customers with a quality product at an affordable price that is suitable for all types of women. This innovative funding solution is exactly what we set out to do when we founded Second Avenue Capital Partners; uses our merchant perspective to satisfy the unique capital needs of retail and consumer companies. ”

Jeffrey Howald, CFO of the Jessica Simpson Collection, shared, “We are delighted with the success of the brand since our acquisition in November 2021, as evidenced by a very strong Q1 2022 where we surpassed Q1 revenue. 15% annually. We have also experienced a strong expansion into international sales and we are extremely pleased with the reception from our new and potential partners in the short time since closing. end of brand acquisition. ”

Mike Sullivan, CEO of SACP, adding, “This is the kind of transaction we were built for. With the Jessica Simpson Collection, you have a hugely successful brand that transcends celebrities. It’s a dynamic founder-run company that can use our capital to drive the next chapter in their success story. For us, this term loan is part of a much larger relationship that reaches out to the broader Schottenstein institution. This is another proof of the impact of the work we do at Second Avenue Capital Partners. ”

Fiber2 Fashion News Desk (KD)





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