Kimora Lee Simmons is looking back on one of the biggest business moments of her career with a little more clarity and a little less glamour. 

In a recent podcast appearance on “Aspire With Emma Grede,” Simmons opened up about the sale of Baby Phat, the women’s fashion brand she helped turn into a cultural force in the early 2000s. Simmons said she likely made “$20 million or less” from the deal, even though the company was sold for “100-and-something million dollars.” 

That admission hits different when you remember just how huge Baby Phat became. Launched as a women's wear offshoot of Phat Farm, the brand grew into one of the most recognizable labels of the era, and under Simmons’ leadership as creative director and president, it brought in more than $1 billion in revenue at its peak. 

The brand was acquired by The Kellwood Company in 2004, and Baby Phat ultimately ceased operations in 2010 before Simmons reacquired it in 2019. She later told People that relaunching the label felt like “the rebirth of my baby,” and said the revival would honor the past while making space for a new generation, including her daughters, to help carry it forward.

Simmons also said she missed the early conversations around the sale and was not aware they were happening, which made the whole experience even more eye-opening. That part of the story may be the most relatable of all: a woman who built something iconic, only to learn the hard way how much ownership really matters. As she put it, “You live, and you learn.” 

And for a brand that helped define Black fashion, luxury, and Y2K-era cool, Baby Phat’s legacy still feels bigger than any one deal. Simmons may be reflecting on the numbers now, but the cultural impact was never just about the money. It was about that iconic cat logo, the confidence it embodied, and the Black girl fashion moments that it still carries today.