Kimora Lee Simmons Reflects On Selling Her Billion-Dollar Baby Phat Empire

Kimora Lee Simmons has built a multimillion-dollar empire spanning modeling, entrepreneurship, fashion design, authorship, and strategic business investments — but she hasn’t always been as calculated in her early business moves.

One of Simmons’ earliest ventures was Baby Phat, launched in 1999 and initially focused on baby tees with bedazzled logos, according to People. The brand grew into a recognizable label in the early 2000s, with figure-hugging jeans and fur-hooded bombers added to its chic line-up.

Kimora Lee Simmons’ Exit From Baby Phat

Baby Phat ceased operations in 2010, largely following Simmons’ departure from the brand, Vogue reports. During an appearance on an episode of the “Aspire With Emma Grede” podcast, Simmons reflected on how much she earned from the brand’s sale, which reportedly generated over $1 billion in revenue, per Vogue.

“You live, and you learn. I probably made — I think we ended up selling … it for 100-and-something million dollars. I probably got $20 million of that, or less. And the entire sale was based on Baby Phat,” Simmons told Grede.

The deal carried a reported value of $140 million, per The New York Times.

Simmons told Grede she “missed all of the preliminary conversations” about the deal. “I wasn’t privy to the fact that these [conversations] took place,” she added.

Contributions To The Culture

When asked by Grede whether she feels she received enough compensation for her contributions over the years, Simmons responded candidly: “Definitely. I feel like not.”

Simmons went on to say that her focus on building and investing, particularly as a mother working to set her children up for success, ultimately left her “better off” than many of the people she once believed had earned more than her.

“I think they made different decisions in life, whereas I was always more of a protector. And you know what they say about a woman — if you give us a house, we’ll make a home; if you give us a seed, we’ll make a baby, we’ll make a family, we’ll multiply that,” Simmons said.

“I was busy multiplying and saving and investing. I did that by investing in all of my businesses … I’m a big shareholder in, because it’s public, Celsius,” she continued. “We have Rockstar, we have drinks, I have skincare brands. Those are mine. And I learned, I think, about the power of money, but [also about] investments. Those are investments that I made,” Simmons added.

Buying Back Baby Phat

Simmons reacquired Baby Phat in 2019, according to People. She officially relaunched the brand on Sept. 29, 2023, per Vogue. The mother of five previously told People that the brand’s relaunch would appeal to millennial and Gen Z nostalgia.

“I call it kind of a relaunch. I just think because of everything we’ve been through, throughout COVID and everything, it seems like your life is always a relaunch every time you give birth to a different iteration of, you know, your baby, which this is,” Simmons said, per the outlet.

The post Kimora Lee Simmons Reflects On Selling Her Billion-Dollar Baby Phat Empire appeared first on AfroTech.

The post Kimora Lee Simmons Reflects On Selling Her Billion-Dollar Baby Phat Empire appeared first on AfroTech.