Jessica Simpson asked her mother for money to buy back her clothing brand.
Jessica Simpson with mom Tina and dad Joe
The 43-year-old singer reclaimed her fashion label The Jessica Simpson Collection in 2021 after a lengthy battle to wrestle back control.
The company was founded in 2005 and then Sequential Brands bought a major stake in the business in 2015, before filing for bankruptcy in August 2021.
Before Sequential imploded financially, Jessica and her mom Tina stepped in to save her brand - which, in 2015, reached sales of $1 billion.
Sequential purchased a majority stake in the brand at the time for $353 million, with Jessica and Tina retaining a 37 percent share of the business. They brought back the remainder for $54 million in summer of 2021, with Jessica putting her $11.5million mansion up as collateral.
In an interview with Bustle, Jessica said: “[Sequential was] headed to bankruptcy. I wanted to make sure we did not get caught up in all that.
Tina - who divorced Jessica's dad Joe in April 2013 - added: “Honestly, she did reach out to me to borrow money. And I said to her, ‘Yeah, let's talk about it.'
“In buying the brand back, I told her, if you're sure you want to do this, you’re just going to have to tighten up your belt a little bit.
"You're going to have to not live not quite as extravagantly.”
In May 2022, The Jessica Simpson Collection secured a $67.5 million loan from Second Avenue Capital Partners, which will allow the mother/daughter team to invest money back into their company, and they now have plans to launch a hair-care extension in 2024.
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