Cha-ching!
Jessica Simpson just brokered her most lucrative business deal to date, agreeing to sell a 50 percent stake of her brand to Sequential Brands Group, Inc.
Launching in 2005 and previously managed by the Camuto Group, Simpson's eponymous brand, which includes clothes, shoes, and home goods, rakes in about $1 billion dollars in sales annually.
"I am extremely honored to partner with Sequential Brands Group to continue the growth and integrity of the Jessica Simpson Collection," she said in a statement. "Working together with the powerful management team at Sequential and with all of our trusted retailers and licensees, including Camuto Group, there is no limit to our success."
Simpson, 34, still plans to be involved wholeheartedly throughout the transition."I'm as committed as I was ten years ago. Here's to the next billion," she said.
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