Simpsons fashion line is worth nearly $1 billion
on Monday,December 13,2010 21:12
Many celebrities try their hand at fashion designing, but few find long-term success. Pop star Jessica Simpson is one exception to the rule, and her brand name is coming close to reaching $1 billion in value, according to CNN.
The singer made $750 million in retail sales this year through her everyday lifestyle line, which has grown in popularity among working professionals and stay-at-home moms alike. Women's Wear Daily (WWD) says that Simpson's decision to branch out into designing jewelry, fragrances and shoes has also helped her company grow into a profitable empire.
"People like her," founder and CEO of Camuto Group, Vince Camuto, told WWD. "People look at her as an icon."
Simpson has plans to continue to expand in the near future. She is already working on designs for a sportswear line, which includes jackets, woven knits and bottoms for the modern woman. The products will be available at approximately 650 retailers across the U.S. and Canada in 2011.
Employment in fashion design is only predicted to grow by 1 percent over the next eight years, according to the Bureau of Labor Statistics. However, wholesale retailers are expected to see an increase in revenue, which may be an area of interest for aspiring designers.
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