How To Find the Next Michael Kors
Jessica Simpson. Laugh all you want, but this is the first celebrity line to cross $1 billion in sales. The license is owned by The Vince Camuto Group, a private company based in Connecticut founded in 2001. "Jessica Simpson filled a void. Her line has cute shoes at a very affordable price," Cannon says.
Camuto created Nine West and turned it into a $2 billion business. He also makes Tory Burch shoes. Camuto partnered with The Jones Group (JNY) to make Jessica Simpson clothes, and Jones reported that fourth-quarter net sales increased 56% from a year earlier and a plus-sized line will roll out for spring. Camuto has a long relationship with Jones: He sold his original Nine West to the company for $2 billion in 1999. If Vince Camuto doesn't spin out Jessica, then maybe he should go public. Ralph, Tommy & Vince, the three amigos.
-- Written by Debra Borchardt in New York
>To contact the writer of this article, click here: Debra Borchardt.
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