Jessica Simpson considered borrowing against her home to get business back
Jessica Simpson considered borrowing money against her homes to regain ownership of her eponymous brand.
The 41-year-old star and her mother Tina were left with a minority stake of 37.5% in Jessica Simpson Collection when Sequential Brands Group Inc. bought a majority share in 2015, but four years later, the 'Dukes of Hazzard' star wanted the lifestyle firm back.
Jessica made the decision while in hospital with bronchitis, 34 weeks into her pregnancy with daughter Birdie, now two.
She recalled pledging: "We’ll borrow against our homes. Even if I have to go live in a little, tiny place in Ireland, I will.”
She added to Bloomberg Businessweek: "We’re ready to go into the trenches. Pay it all back and earn it ourselves.”
In the time since she established the company, Jessica realised she was at the heart of what drove the firm.
She said: "At the beginning of the business, it was a lot about people-pleasing. Then we realised we actually are the leaders.”
In January 2021, Jessica and Tina hired boutique investment bank Threadstone Capital LLC to arrange financing so they could buy back the Jessica Simpson Collection and the 'With You' singer had a clear brief for them.
Threadstone managing director William Susman said: “Jessica’s message since I’ve been involved has been very, very clear: ‘I want my name. I want the control of my company.’ She views it very much as part of her identity."
The pair bought regained control of the firm in October 2021 and plan to keep all 20 of its licensees in over 30 categories, as well as expanding into new products and thinking about creating their own licensing company.
Tina said: “We want to build our own IP platform, so that we can sign other people under us, and our umbrella, and we will take good care of them."
Jessica - who has Birdie, as well as Maxwell, nine, and Ace, eight, with her husband Eric Johnson – admires the way her friend Kim Kardashian runs her business empire.
She said: “She reminds me of myself in a lot of ways: She’s very vulnerable, very honest, self-deprecating, and driven. I wish I had a little bit more of her confidence.”
