Last month in a major industry shakeup, Camuto Group was acquired by Authentic Brands Group and DSW Inc. in a blockbuster $375 million deal. The surprising news left many speculating about the future of Camuto’s portfolio of brands under the new ownership.
Today, the New York-based Sequential Brands Group clarified that the hugely successful Jessica Simpson footwear label — which has been licensed to Camuto since 2015 following its sale of the brand to Sequential — is staying put with Camuto for the foreseeable future. Sequential announced it has signed a long-term licensing partnership renewal under which the DSW-owned company will continue to oversee Simpson’s footwear business. Sequential CEO Karen Murray said the partnership extension “speaks to the brand’s strength as well as consumers’ demand for [Simpson’s] fabulous shoes.”
Simon Nankevis, DSW’s chief commercial officer, said in a statement: “The Jessica Simpson collection remains a key brand within the portfolio, and our long-term relationship with Jessica and her commitment to growing the business position of the footwear category for strong growth in the near term. In addition, Jessica’s close connection to her consumer continues to foster new opportunities as we look to an exciting future together.”
For her part, Simpson, who has worked with Camuto for nearly 14 years as she built her billion-dollar lifestyle brand, said she is thrilled to carry the partnership forward into the future. “I am proud of the footwear business we have built together, and I feel blessed to carry on [founder] Vince [Camuto]’s legacy in our shoes and his spirit in our drive to keep dreaming bigger.”
Inside Camuto Group’s $375M Deal With ABG and DSW
Market Watchers Tackle the Complicated Marriage of DSW, Camuto Group & ABG
Exclusive: Jessica Simpson Talks Personal Style, Baby No. 3 and Being a ‘Fashion Icon’