Private equity group Consortium Brand Partners has announced its acquisition of actress Reese Witherspoon’s fashion and lifestyle brand, Draper James. With this deal, Consortium Brand Partners has acquired a 70% stake in the company, while Witherspoon remains a partner and board member.
Draper James, launched by Witherspoon in 2015, is a retail brand that draws inspiration from her Southern roots. The brand sells clothing in vibrant colors and bold prints, along with accessories and home items. Over the years, the brand expanded its reach by opening three retail locations and entering into an exclusive partnership with Kohl’s in 2022.
Despite the acquisition, Draper James products will continue to be available for purchase online through the brand’s website, as well as in its three retail stores and at Kohl’s. Consortium Brand Partners has also expressed its plans to further expand the Draper James merchandise into the big box home improvement space, department stores, pet store chains, and overseas.
Reese Witherspoon stated that Draper James was created from a personal connection to her roots, family, and the influential women in her life. She expressed excitement about joining forces with Consortium, highlighting their understanding of the brand’s vision and community.
Source: CNN
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