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DONE DEAL FOR RACHEL ROY: Topson Downs of California has closed on its acquisition of the Rachel Roy brand.
As reported, the acquisition of the brand for an undisclosed amount includes the forming of a partnership between Roy and Topson to develop and market the Rachel Roy brands. The Rachel Rachel Roy contemporary brand is an exclusive at Macy’s. There are plans to relaunch Roy’s designer brand at a later date.
Rachel Roy retains a minority interest in the business and has 100 percent creative control of her name. She continues as chief creative officer of the business.
The acquisition is Topson’s first of a branded business. Its portfolio consists of primarily private label brands for its retail partners, mostly in the juniors category and broader contemporary space. Topson has already hired Denise Johnston as president for the Rachel Roy business. Daniel Abramovitch, a Topson partner, will head up the Rachel Roy operation as chief executive officer.