Some of Russell Simmons’ newest business ventures:



Sneakers

Simmons’ $260 million company recently launched a line of Phat Farm sneakers. Although they are offered in a variety of color accents, he said the bestsellers have been the all white kicks. He said he sees major potential in his footwear business, since it went from $6 million to $35 million in sales in only one year.



Credit Cards

In a partnership with Visa, Simmons is offering a Visa debit card to people who cannot open a bank account.

"There are more than 70 million Americans who do not have bank accounts for one reason or another," he said. "This card allows these people to buy their kids books and other important things and it’s not attached to a bank account. They are only allowed to spend what they have. It helps these people out and is going to make me a lot of money."



Beverages

The Russell Simmons Beverage Co.: Simmons made some noise after hearing that Pepsi was banning rapper Ludicrious from its ads because of an unclean image. Pepsi and Simmons have worked things out, and he has decided to launch his own beverage company. A fan of yoga and a vegan, Simmons plans to launch a series of tasty soft drinks. He’s already acquired Bella Cafe, a coffee drink, and plans to launch Def Can 3, a health-conscious concoction.

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