Beyoncé and Rihanna invest in French fashion brand Destree
Last October, French accessories brand Destree (previously known as D'Estrëe), unveiled its first women's ready-to-wear collection via a pop-up store set up at Bon Marché.
Six months later, the brand co-founded in 2016 by Géraldine Guyot, a London Central Saint Martins College graduate, and Laetitia Lumbroso, former collection manager for Baby Dior, has just completed a Series A funding round to expand its team and open its first stores, namely on Rue du 29 Juillet in Paris this upcoming June, as reported by American media outlet Women's Wear Daily.
This deal, with a value which has not been disclosed but that will keep the two founders as majority shareholders, has been carried out with Sequoia Capital China under the leadership of Angelica Cheung, former editor-in-chief of Vogue China, who joined the fund in February 2021.
Famous female names also took part in this first round, such as singers Beyoncé and Rihanna; actress Reese Witherspoon; former model Gisele Bündchen; creative director of Chloé Gabriela Hearst; entrepreneurs Carmen Busquets and Jessica Alba; Emily Weiss, founder of American beauty brand, Glossier; and founding partner of the 69 Ventures fund, Amy Griffin.
In addition to opening a future boutique in Paris, Destree, which launched in 2016 with hats and handbags before introducing a jewelry line in 2019 featuring pieces with contemporary lines inspired by the arts, has about 80 select retailers.
The brand, which aims to generate 80% of its turnover through direct sales, compared to 60% today, looks to open a store in China or even in New York soon. Guyot has spent a lot of time in the Big Apple since her husband, Alexandre Arnault, son of Bernard Arnault, CEO of LVMH, became vice president of products and communication at Tiffany & Co., following its acquisition by the French luxury group.
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