Hip-hop mogul Russell Simmons has sold his super successful PHAT FARM urban clothing line for a staggering $140 million (GBP82.35 million).

The Def Jam co-founder has agreed terms with KELLWOOD CO. in America, in a deal which includes a share of future revenue.

Kellwood, famous for its moderately-priced clothing, will also buy the Phat Farm, BABY PHAT and PHAT trademarks from Simmons and his wife Kimora Lee SIMMONS.

12/01/2004 21:31