*French entrepreneur Géraldine Guyot, co-founder of the Paris-based accessories firm Destree, has revealed that Beyoncé, Rihanna, Reese Witherspoon, and supermodel Gisele Bündchen are among the list of investors for the fast-growing company.
Guyot launched Destress in 2016 with co-founder Laetitia Lumbroso.
“Destree tells the story of a colorful and singular passion, of a Parisian yet different style, drawing its beauty from the visual dissonances it evokes and which it translates through a graphic and structured aesthetic,” reads the brand’s website.
Here’s more from Essence:
Vogue reports that the funding will develop its presence in China, boost digital as well as accelerate wholesale. Still, Lumbroso expects DTC to represent 80 percent of the brand’s sales by 2024, up from 50 percent today. The brand says they offer pieces that are both essential and unique with a graphic charm that combines clean shapes and singularity. It is a tribute to contemporary art where colors come in perfect harmony to create materials that stand out among the rest. All investors considered, Guyot and Lumbroso still retain majority control of the business, WWD reports
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shut down the met in marble! what’s more gilded than that? Lol! Thank you @metmuseum and @voguemagazine for this historic tribute! y’all bad for this one! pic.twitter.com/NawYMd0RpL
— Rihanna (@rihanna) May 3, 2022
“So far we’ve grown organically, reinvesting our own profits since Day One,” Guyot said in an interview, per WWD. “Our main growth avenue is market share gain, which will come by increasing our physical and digital presence.
“This fund-raise will allow us to gain control of our distribution and control our clientele much more. We are targeting over 80 percent of directly controlled sales,” she added. “We are thankful for and honored by our female-only funding round. So many of our role models are participating.”
Asked about the pressure of having powerful shareholders on her team, Guyot said: “The good thing is I tend to work well under pressure, better than under no pressure.”
She added, “When you have investors, you have to be accountable.…It’s good pressure. It should nourish me.
“We look forward to the moments in which we may draw inspiration from this unique pool of investors. It is definitely not a coincidence: We were oversubscribed and had to turn down many reputable male investors in order to fulfill this vision,” she added.
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