Former Roc-A-Fella CEO Damon Dash has teamed up with wife Rachel Roy for a clothing line venture through Jones Apparel Group Inc.
Today Dash announced that the Jones Apparel Group has formed a $4 billion dollar joint venture with himself and Rachel Roy and TSM Capital LLC to develop, market and license the New York-based fashion brand, Rachel Roy.
This new joint venture will be an extension a larger more detailed line based on the current Rachel Roy Collection that was launched in the spring of 2005. The line is described as sophisticated with a modern edge and exhibits effortless glamour.
Damon Dash is a veteran to the fashion world, starting successful urban brand Rocawear in 1995. "Both Rachel and her clothing appeal to many audiences around the world, making her a widely renowned design talent,” Dash says. “Through this partnership, we will be able to explore new opportunities for Rachel Roy, the brand.”
The joint venture business partners plan on continuing to develop the Rachel Roy brand through more global expansion of the wholesale business, introduction of new product categories, and stand-alone retail stores in key U.S. and international locations.
The Rachel Roy line is sold at Bergdorf Goodman, Neiman Marcus, Nordstrom and Saks, and the United Kingdom, Hong Kong, the United Arab Emirates, Kuwait, South Korea, Canada and more.
June 17, 2008 @ 7:07 pm
Dame Dash and Rachel Roy Extend Clothing Venture
Rachel Roy line teams up with Jones Apparel Group for $4 billion joint venture
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