Rachel Roy's legal battle with parent company The Jones Group has come to an end.
To recap: Jones suddenly (and without Roy's permission) ceased production of her designer line in March, shutting down her sample room and firing her employees. Jones Group did this in preparation for its acquisition by Sycamore Partners, and with the intention of selling Roy's trademarks to another company, Bluestar Alliance — also without Roy's approval. Roy then sued Jones Group and was granted a preliminary injunction by the New York Supreme Court preventing the sale of those trademarks.
Today, Bluestar Alliance is officially out of the picture and Rachel Roy has a new owner. Topson Downs, a privately held apparel and manufacturing company based in Los Angeles, announced Friday that it has purchased a majority equity stake in Rachel Roy — including Jones' entire 50 percent stake — and plans to form a partnership with the designer "to develop, market and license" the brand. Roy will maintain 100 percent control of her name.
That name, of course, includes two brands: Rachel Roy (the higher end designer line) and RACHEL Rachel Roy, a lower-priced line sold at Macy's. Topson Downs, which also produces private label Macy's brands like Bar III and Material Girl, said it plans to first focus on expanding RACHEL, and then relaunching the designer line.
The brand has also named a new president: Denise Johnston, who has experience running such companies has Liz Claiborne, Jack Rogers and GAP Adult North America.
"My partners and I share a vision on how to nurture and grow a brand through strategic investment to position it for great success and longevity," said Roy in a statement. "Topson Downs commitment to excellence in manufacturing, retail partnerships, the end-consumer and, above all, the people they employ make them the perfect partner to take the brand to the next level."