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Rachel Roy Has A New Owner

Jul 18, 2014 09:35 PM EDT
Rachel Roy
(Photo : Getty Images/ Charley Gallay)

Topson Downs, which is an apparel and manufacturing company, has announced that it has purchased a majority equity stake in Rachel Roy, according to Fashionista.

"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," stated Roy in a statement and reported on by Fashionista.

"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."

This agreement means that Topson Downs, which is a privately held company based in Los Angeles, has taken ownership of the The Jones Group's 50 percent stake.

Additionally, the privately held company will be forming a partnership with Roy "to develop, market and license" the brand, according to Fashionista.

Roy will retain full control over her name, which includes the designer-priced line Rachel Roy and its lower-priced sister, RACHEL Rachel Roy.

Initial plans for Roy's lines include prioritizing RACHEL Rachel Roy first.

Since Topson Downs produces private label brands for Macy's already, where RACHEL Rachel Roy has been sold, this decision appears to be a strategic step forward.

Denise Johnston has been named the new president of the brand, as Fashionista highlighted.

Johnston has worked for companies such as Liz Claiborne, Jack Rogers and GAP Adult North America.

Roy is certain to be relieved this roller-coaster is hopefully behind her.

Just this past March, Jones Group stopped production of Roy's designer line, without her permission, according to Fashionista.

The designer's sample room was shut down and employees fired.

Jones Group took these steps in an effort to be ready for its acquisition by Sycamore Partners. In turn, Roy's trademarks would be sold to Bluestar Alliance.

In reaction to this, Roy sued Jones Group and was granted a preliminary injunction by the New York Supreme Court, which helped to ensure Roy's trademarks could not be sold, as Fashionista reported.

What do you think of Roy's new owner? Do you think she has finally left the headaches behind her?

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