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RACHEL ROY DESIGNER BUSINESS CLOSES: The Jones Group, which is currently being sold to Sycamore Partners, has shut down the Rachel Roy collection. The division let go its designers and closed the pattern and sample rooms last week. The designer line was sold to retailers such as Neiman Marcus, Bloomingdale’s and Saks Fifth Avenue. According to sources, the designer collection didn’t fit in with Jones’ overall strategic direction. Jones isn’t going forward with production of the fall collection, which was shown last month and marked the 10th anniversary of the label. Jones officials declined comment Monday.
Jones will continue to produce the Rachel Rachel Roy contemporary collection, which is sold exclusively to Macy’s.
Jones has a 50 percent stake in Rachel Roy’s business, which resulted from a joint venture formed in 2008 between the designer, her then-husband Damon Dash, Jones and investment firm TSM Capital, which acquired a minority stake in 2007.
Roy told WWD that her relationship with Jones had ended, but she plans to finance the collection herself, although details weren’t available at press time.
Last December, reports were circulating in the market that Roy was trying to find a partner to buy back her brand or take it under different ownership. Bluestar Alliance was said to be eyeing Roy’s business earlier this year, but Bluestar officials couldn’t be reached for comment at press time.
RELATED STORY: Jones Shareholders to Meet April 7 on Sycamore Buy >>