Russell Simmons Departs Phat Fashions

 

Russell Simmons has announced he will step down as CEO of Phat Fashions in order to pursue his other varied interests.

Simmons sold Phat Fashions and all of its brands and licenses to Kellwood in 2004. Following the sale, Simmons has held the title of CEO of Phat Fashions, while also developing his own businesses in the jewelry, fragrance, personal health and entertainment industries.

Simmons commented, "I have enjoyed my association with Kellwood over the last three years. We have accomplished much during this short period of time -- and I leave the division and the brand in great hands. There are so many things I want to achieve, and this is the appropriate moment for me to move on to my next business venture."

Kimora Lee Simmons, currently Baby Phat president and creative director, has been elevated to the new post of creative director for Phat Fashions in addition to her current responsibilities, according to Robert C. Skinner, Jr., Kellwood chairman, president and chief executive officer.

Kimora, Russell Simmons' ex-wife, has been his business partner for many years and she has a keen understanding of the Phat legacy. "I look forward to interpreting the Phat essence for today's man as well as the Baby Phat woman," commented Kimora Lee Simmons. "This is a natural extension for me. Our consumer -- man, woman, or child -- wants to be immersed in the aspirational Phat lifestyle and it's my role to assure them that every product they touch is authentic to the Phat philosophy and creative vision."

Simmons founded Phat Fashions' Phat(R) and Phat Farm(R) brands in 1992, introducing a new and original approach to urban menswear. Phat Fashions' womenswear brand Baby Phat(R) was launched in 1999. Both brands were purchased by Kellwood as part of its 2004 acquisition. Following Mr. Simmons' departure, all of Phat Fashions' brands will continue to be operated, distributed and licensed by Phat Fashions and Kellwood, except for Russell Simmons-Argyleculture and Atman, which will become his trademark properties.