One of our favorite denim lines, J Brand, is undergoing some major changes in the business world. The California-based line is a favorite of celebrities like Rachel Bilson (pictured above), Sienna Miller, and Nicole Richie. As if the celebrity endorsements werent enough, it was just announced today that Star Avenue LLC has just purchased a majority interest in J Brand; the deal is rumored to be for upwards of $50 million.
As a result of Star Avenues already existing partnership with Irving Place Capital and Creative Artists Agency (CAA), both companies will also have major stakes in J Brand. CAA, a prominent sports and entertainment agency, represents some of the leading stars and talent in the entertainment industry. The partnership with CAA will prove to be very beneficial in terms of allowing J Brand to have better access to consumers through various media outlets. Regarding the partnership with CAA, Mark Genender (Star Avenue Capitals Managing Director) told WWD, Its access to media. How you message brands to consumers has clearly changed over the last 10 years. Having partners like CAA helps take J Brand to the next level.
Jeff Rudes, who lauched the brand in 2005, will continue as the companys Chief Executive Officer. In todays press release, Rudes says, We are very excited about the partnership with Star Avenue Capital and the strategic resources it will provide J Brand as we grow the business further and expand into new categories. Rudes, along with co-founder Susie Crippen,started the denim line in an effort to provide women with a clean and well-fitted jean. Although the skinny straight leg jean has become very common among denim brands, J Brand is known as the first American based jean brand to successfully implement the trend.
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