RACHEL ROY’S FUTURE: Could Rachel Roy be trying to buy back her company from Jones Apparel Group, which is getting close to being sold? Jones owns 50 percent of Roy’s business, and the remaining interest is owned by the two founders, Rachel Roy and Damon Dash, as well as TSM Capital, which acquired a minority stake in the business in 2007.
Suzanne Karkus, president of Rachel Roy, said: “We don’t comment on corporate rumors.” She said that her team is “completely engaged and focused on driving the businesses,” which include Rachel Roy and Rachel Rachel Roy, an exclusive contemporary line for Macy’s. Karkus joined in May and hired a new creative director. She expects to debut “an enhanced line” in February. Roy, who was on the West Coast, would only say through her spokeswoman: “It’s just a rumor.”
This story first appeared in the December 13, 2013 issue of WWD. Subscribe Today.
Mortimer Singer, president and chief executive officer of Marvin Traub Associates, and a partner in TSM Capital, declined comment, as did a spokeswoman for Jones.