Russell Simmons Sells Phat Farm
Last year Phat Fashion snatched $615 million dollars of the fashion market. Kellwood will now have access to a 10 billion dollar market and strengthen its presence in hip-hop brands. Along with the agreement Russell will continue to have long-term incentives through a royalty arrangement. I'm a much bigger philanthropist today, Russell said at a press conference last week. A portion of his money will be used to register more voters and education. Russell will also build an endowment that his children may run in the future. I want them to go to work every day and give away money," he said.