Damon Dash and Rachel Roy Expands Fashion Brand
Damon Dash and his wife, Rachel Roy have joined forces in their business endeavors. Dash and Roy have announced a joint venture with Jones Apparel, Inc. to expand Rachel Roy Collection fashion brand.
Rachel Roy Collection initially hit the market in 2005 and has seemingly done well. The collection is only available in high end department stores such as Nordstrom, Saks, Neiman Marcus and Bergdorf Goodman. Also can be found overseas in the United Kingdom, the Middle East, South Korea and Indonesia.
The joint venture will prove profitable for Jones Apparel, Inc. and Roy and Dash. Jones Apparel, Inc. will retain 50% interest in the venture and Dash and Roy will retain the remaining 50% interest. Rachel Roy will has retain creative control of her and continue overseeing the design, manufacturing and production of the line. This joint venture is estimated to be worth $4 billion between the companies.
Unfortunately the remaining details of this venture has not been disclosed .
Source: AllHipHop
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