The money moves keeping going with Beyoncé and Rihanna.
Imagine the moment when Beyoncé and Rihanna are interested in helping you grow. Well, yes it happens.
Destree actually lived this moment.
According to reports, both Beyoncé and Rihanna share investment ventures in the company, a French ready-to-wear and accessories company.
In its Series A funding round, Destree has garnered support from not only the superstars, but also Jessica Alba, Reese Witherspoon, Gisele Bündchen, and more, along with Sequoia Capital China, who led the round, per Crunchbase.
The brand says that they aim to not only double the size of its team but also “open its first freestanding stores and reach deeper into several markets,” according to Billboard.
Based in Paris, France, the company’s website reveals the brand is fairly new, launched in 2016 by Géraldine Guyot and 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 site.
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. The graphics define the uniqueness with charm that combines clean shapes and singularity. The company pays tribute to contemporary art. The combined colors come in perfect harmony to create materials that stand out among the rest.
Beyoncé has had a keen eye for investments lately.
The artist also made money moves investing in a lemon water company. She spoke on the investment saying, “I don’t typically enjoy drinks without added sugar, but Lemon Perfect is delicious. It was an easy decision to invest in something that not only tastes great.”
She continued, “and is healthy, but also, and most importantly, allows choosing a healthier lifestyle to be affordable and accessible to everyone.”