Beyoncé and Rihanna Make Investment in all-Female Funded Brand

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Destree, an accessories company, has a star-studded line of investors. Many investors such as Reese Witherspoon, Jessica Alba, Beyoncé, and Rihanna also joined the investor’s line. French entrepreneur Géraldine Guyot cofounded the six-year-old Destree, who has leveraged her passion for contemporary art into unique hats, handbags, jewelry, and now apparel.

The answer is women, not girls, who run the Parisian accessories and ready-to-wear firm Destree. The brand has attracted plenty of new investors, including singer-entrepreneurs Beyoncé and Rihanna. While each artist has her own fashion ventures, they are also part of a historic fundraising effort that has drawn investments from Reese Witherspoon, Gisele Bündchen, Jessica Alba, Glossier founder Emily Weiss, and Gabriela Hearst, among others, according to Women’s Wear Daily (WWD).

The ultimate celebrity endorsement has already benefited the brand. Beyoncé was one of the first major celebrities to carry a Destree bag, wearing the brand’s “Alvar” bag to a New York Fashion Week event, according to WWD. Destree’s most popular product category is bags, though the company also sells jewelry, hats, and ready-to-wear.

While the exact amounts invested by Beyoncé, Rihanna, and others are unknown, this round’s all-female funding would be a first in the fashion industry and a deliberate attempt by Guyot co-founder and Destrée, Laetitia Lumbroso, who will keep majority control of the brand. According to WWD, the brand’s newest investors are a unique bunch with knowledge and experience in the areas of sustainability, fashion technology, entrepreneurship, communications, beauty, and entertainment.