Vive La Roy
Rachel Roy must like the sound of ka-ching. Last November the designer sold a minority stake in her ultrafeminine label to TSM Capital. Then, in June, came the news that Jones Apparel Group was buying 50 percent of the brand,…
Rachel Roy must like the sound of ka-ching. Last November the designer sold a minority stake in her ultrafeminine label to TSM Capital. Then, in June, came the news that Jones Apparel Group, which also owns Anne Klein and Nine West, was buying 50 percent of the brand, creating a three-way venture among Roy, Jones and TSM Capital. Roy will continue to design the line and plans to use the additional funds to expand globally and possibly launch a perfume, home items and a more affordable offshoot. The deal also takes some pressure off of Roy’s hip-hop impresario husband, Damon Dash, who financed the launch of his wife’s line and has likened the experience to “wallet shock.”
Photo: Theo Wargo/Wireimage.com
