The up-and-coming fashion brand Destree announced last week that it exceeded expectations in its Series A funding round, attracting a string of high-profile investors – including Rihanna and Beyoncé.
The Parisian fashion brand known for its feminine, architectural designs and celebrity-endorsed accessories (Selena Gomez is another acolyte) now has the backing of prominent women across the globe.
Along with Beyoncé and Rihanna, investors include designer Gabriela Hearst, Jessica Alba and Reese Witherspoon.
The brand now has an exclusive group of women occupying all the seats at the table, but the choice was an intentional one, co-founder Géraldine Guyot said. “We were oversubscribed and had to turn down many reputable male investors in order to fulfill this vision,” she told Women’s Wear Daily.
Guyot described Destree’s investor lineup as a “unique pool” to “draw inspiration from.” She and co-founder Laetitia Lumbroso targeted women with experience in different realms of fashion, including entrepreneurship, sustainability and fashion tech, according to Billboard.
The funding secured in Destree’s latest round will go towards expanding the brand’s vision of bringing Instagrammable statement pieces and wholesale accessories to brick-and-mortar stores across the world, as well as expanding their e-commerce presence.
“Being surrounded by empowered female visionaries is a reflection of our own outlook for Destree,” Guyot told Vogue. “We look forward to the moments in which we may draw inspiration from this unique pool of investors.”
