Topson Downs Announces Majority Equity Stake in Rachel Roy Partnership will build and extend categories of the Rachel Roy brand
NEW YORK, July 18, 2014 /PRNewswire/ -- Topson Downs today announced that it has purchased a majority share of the Rachel Roy brand from The Jones Group. Under the terms of the agreement, Topson Downs, a privately-held apparel and manufacturing company, will form a partnership with Ms. Roy to develop, market and license the New York-based fashion brand. In the agreement Ms. Roy will retain 100 percent creative control of her name.
Rachel Roy said, "I'm thrilled to be working with Topson Downs in this next stage of the Rachel Roy legacy. My partners and I share a vision on how to nurture and grow a brand through strategic investment to position it for great success and longevity. Topson Downs commitment to excellence in manufacturing, retail partnerships, the end-consumer and, above all, the people they employ make them the perfect partner to take the brand to the next level."
Topson Downs will assume all operations from The Jones Group, which was recently acquired by Sycamore Partners. Plans include the re-set of the Rachel Roy designer brand and category expansion of the contemporary RACHEL Rachel Roy collection.
Daniel Abramovitch, partner at Topson Downs said, "We see a white space in the market and believe Rachel's aesthetic and vision has room to grow and flourish. We are excited to continue to grow our exclusive partnership with Macy's with the RACHEL Rachel Roy brand and engage in a more omni-channel approach. This brand has endless possibilities."
Denise Johnston has been named president of Rachel Roy and RACHEL Rachel Roy. Ms. Johnston will oversee all aspects of the lines, including growth and future licensing opportunities. She has over 25 years experience running iconic companies such as Liz Claiborne, Emma James, Jack Rogers and GAP Adult North America. Her extensive background in both wholesale and retail has been cultivated from early management positions at Macy's, Neiman Marcus and Dayton Hudson.
Denise Johnston said, "This is a wonderful opportunity to build upon an already established fashion brand and see it to its fullest potential. Rachel remains chief creative officer and will continue to spearhead the brand's vision. She has built an incredible team over the years and we're very excited that the majority of them are coming over to participate in the expansion of the company. Our job is to support Rachel and her team in every way possible, from finding the right retail partners, to opening stores, to expanding into other categories. We see great promise in making Rachel Roy a true player in the global arena."
ABOUT RACHEL ROY
Rachel Roy, designer, entrepreneur, philanthropist and mother, designs to inspire women to feel smart, confident and individual. Inspired by the working women she knew, Rachel Roy New York debuted in 2005 as a modern assortment of ready-to-wear staples that took women from the office to evening. In 2009, RACHEL Rachel Roy launched with a downtown, youthful affordable contemporary sportswear brand essence and has quickly become a destination brand at Macy's and won the best brand launch by the Accessories Council in 2010.
Rachel is a member of the Council of Fashion Designers of America (CFDA) and continues to be actively engaged in the evolution and integrity of not only the fashion industry but for women's well-being globally through her Kindness Is Always Fashionable initiatives. Rachel is the editor-in-chief of the digital magazine, The Life, and a judge on Lifetime television's Under the Gunn from the Project Runway family of programming.
ABOUT TOPSON DOWNS
Based in Los Angeles, California, Topson Downs is a global leader in the apparel and manufacturing industry. Over the last 38 years it has built a roster of independent fashion brands and private label collections that ship to major retailers internationally, such as Macy's, Nordstrom, Bloomingdale's, Target, Walmart and Kohl's. With its strong network of retail partners and a vast global infrastructure, it maintains an unparalleled standard in production and quality control. Its core values remain the same since 1971, centering on quality, sustainability and community.
SOURCE Topson Downs