PRNewswire – SecondAvenue CapitalPartners (SACP), the lender of SB360 Capital Partners (SB360), has announced the resolution of the 67.5 million dollar loans related to the JessicaSimpsonCollection, Jessica Simpson’s 1 billion dollar lifestyle brand and fashion business. The new funds will be used to repay the existing credit arrangement and provide liquidity to fund the brand’s portfolio expansion, Consolidationnow for bad credit.
“While this aspect of our connection is new, our history with Schottenstein dates back to our beginnings,” Jessica Simpson, CEO of the Jessica Simpson Collection, said of Schottenstein history. Under the guidance of Vince Camuto and the Camuto Group, Jessica Simpson launched her brand Schottenstein in 2005. Schottenstein was CEO of Designer Brands Group in 2018 when it joined with Authentic Brands Group to buy Camuto Group.
Jessica stated, “Vince used to say”you’re not going anywhere without the appropriate people. Our management team has this capability. We depend on the support of our license partners and we now rely upon it even more from our financial partner. It’s incredible to have complete control over our company, and with the right backing, there’s no limit to what we can accomplish. “
Jessica Simpson, her business partner, and her mother Tina Simpson purchased the entire Brand in November 2021. Jessica, Tina, and their staff were determined to control the entire business of the lifestyle company they established over the course of 16 years before it was purchased from Sequential Brands in 2015. In the next year, the company was founded.
After they took over complete control and ownership, the team began to plan ways to expand the business operation and to expand the variety of products. They immediately signed agreements for five license categories, and another five are currently in discussions. The JessicaSimpsonCollection, which is on the verge of breaking records in the next 22 years, comprises scent bags for footwear, apparel accessories for baggage, fashion bags, purses, and maternity clothes for women and clothing, as well as furnishings. The latest offerings focus on the care of skin, fitness, and health, and jewelry comprised of semi-fine material and furniture.
SB360 President Aaron Miller acknowledged his gratitude for the brand’s image as well as Jessica Tina’s management. “From the moment we met Tina, Jessica, and the rest of the team, we knew it was a fantastic fit. It’s amazing to look at what they’ve accomplished after their recent acquisition, and we’re excited to help them increase the growth of the company. Jessica and Tina have spent years establishing a very successful lifestyle business that provides clients with high-quality products at a reasonable price, a product that appeals to women of all types. This one-of-a-kind financing solution is exactly what we set out to do when we founded Second Avenue Capital Partners. We use our experience as a retailer to handle the unique financial needs of consumer and retail enterprises.”
The Jessica Simpson Collection’s President, Tina Simpson, discussed the company’s future plans. company. “We have talented and talented licensing partners. Having Jessica as the president will give them new energy and confidence that the company will succeed in its future. Jessica and I, along with our hardworking staff, will be able to reclaim control of her brand name and develop an iconic brand that will last generations. We are happy to have SACP and our licensees on board to assist us in achieving our objectives as we face future difficulties and build the brand.”
“We’re happy with the expansion of the brand following the acquisition in November 2021, as indicated by an exceptional first quarter in 2022, where we beat the year-over-year 1st quarter revenue by 15%,” said Jeffrey Howald, CFO of the Jessica Simpson Collection. We’ve also experienced an aggressive increase in sales to international markets and we’re thrilled by the response from our potential and new partners in the very short amount of time since we completed the acquisition of the brand. “
“This is the kind of deal we’re created for,” said Mike Sullivan, Managing Director of SACP. “With the Jessica Simpson Collection, you have a brand that is highly successful without being connected to fame.”It’s a thriving, founder-led company that can put our money to good use in the next chapter of its narrative. This loan is part of a much larger connection with us that spans the Schottenstein group. Another example of the work that Second Avenue Capital Partners does. “
The Jessica Simpson Collection’s legal counsel in the proposed credit facility discussions was Michael Howald of Katten Muchin Rosenman LLP. Second Avenue Capital Partners’ legal advice was Steven Fox and Lyle Stein of Riemer & Braunstein LLP in the talks to get this newly constructed credit facility.
Second Avenue Capital Partners, LLC (“SACP”), a Schottenstein Affiliate, is a specialist in lending constructed on assets suitable for the consumer and retail goods industries. SACP, which serves enterprises in the middle market, draws on the experience of merchants and lenders to provide a variety of financial solutions tailored to their needs. SACP’s capacity to grasp the significance of assets that others don’t recognize or are unaware of is due to its comprehensive view of the business. The specialized financial solutions offered by SACP are an important resource for people seeking financial support in achieving their goals and objectives. The SACP has offices in Boston, New York, Columbus, and Los Angeles.
SB360 Capital Partners is a Schottenstein affiliate that helps firms with asset restructuring and profit recovery. SB360 is a private equity investment firm that assists in offering the capital needed to expand in finance and finance turnarounds, as well as providing liquidity to firms that are undergoing changes. SB360 invests in a variety of assets, including fixed assets real estate, entire business units, and fixed inventory. SB360’s asset disposal services range from determining an asset’s value to liquidation expertise. SB360 also includes firms involved in real estate consulting and commercial real estate investment. Second Avenue Capital Partners is a company that provides loans to mid-market firms based on their assets. The owners of SB360 have substantial commercial stakes in national wholesale and retail operations, globally known consumer brands; industrial, residential and commercial real estate assets, and financial services companies.
The Jessica Simpson(r) Collection was inspired by and created in collaboration with Jessica Simpson, a celebrity known for her style, music, and as a legendary fashion designer. The products inspired by the lifestyle reflect everything in modern Americana and are fashionable, trendy, flowing, and fun. Timeless and budget-friendly. It is available across the globe and is comprised of 37 categories of clothes, footwear, as well as outerwear fitness, and activewear accessories such as optical frames, sunglasses, small leather pieces, and bags, which include bags with fragrances for swimming wear, accessories for legwear, accessories makeup wipes, jewelry accessories, scarves/hats/scarves watches, intimate slippers, winter-themed clothing and luggage, sportswear athleisure, swimwear jackets, and maternity clothes as well as clothes for girls and pet and babies. Towels, bedding, and other home design goods are among the ever-expanding array of household supplies. The collection is ageless, simple, and elegant, but also gorgeous, seductive and sweet, attractive and flirty, and sometimes classic, but always modern, like Jessica, herself explains.