Apparel and manufacturing company Topson Downs has purchased a majority share of the Rachel Roy brand from The Jones Group.
Under the new agreement, Topson Downs will partner with Roy to develop, market and license the New York-based fashion brand. Roy will retain full creative control of her name.
Topson Downs will assume all operations from The Jones Group, which was recently acquired by Sycamore Partners. Plans include a re-set of the Rachel Roy designer brand and category expansion for the contemporary RACHEL Rachel Roy collection.
"We see a white space in the market and believe Rachel's aesthetic and vision has room to grow and flourish," says Daniel Abramovitch, partner, Topson Downs. "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. Johnston will oversee all aspects of the lines, including growth and future licensing opportunities. She has more 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.
"This is a wonderful opportunity to build upon an already established fashion brand and see it to its fullest potential," says Johnston. "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."