Rihanna and Beyonce are the latest string of stars who are joining forces and investing in French ready-to-wear clothing and accessories firm Destree. According to Billboard, the R&B superstars are officially investors of the company, which has already seen the likes of Jessica Alba, Gisele Bündchen, and Reese Witherspoon join as shareholders in its series A funding round.
The brand was founded in 2016 by Géraldine Guyot and Laetitia Lumbroso, with current plans to double the size of its team and “open its first freestanding stores and reach deeper into several markets,” the publication quotes. The current funding period will help develop Destree’s presence in other countries, such as China, while boosting its digital visibility and increasing wholesale.
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“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,” the official website reads. Destree claims to offer prices that are unique and essential to the everyday person with simplistic and clean patterned graphics as a homage to contemporary art.
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This latest business venture for Beyonce and Rihanna is just one of many companies they have either invested in or launched in recent years. In 2019, Bey’s Ivy Park teamed up with Adidas for a multi-year partnership to sell a collection of clothes and shoes after cutting ties with former business partner Philip Green, while Rihanna has built a billion-dollar brand thanks to her Fenty empire.
From Fenty Skin to Fenty Beauty, her makeup brand alone is worth a billion dollars. At the same time, Rihanna’s Savage X Fenty linger line has been estimated to be worth a whopping $3 billion, making the Umbrella singer one of Hollywood’s wealthiest musicians and businesswomen.
Meanwhile, in her interview with Vogue US last month, Rihanna gushed about her love for her beau A$AP Rocky as the two prepare for the birth of their first child. The two have dated on and off for the past 10 years, but their most recent reconciliation appears to have solidified their relationship once and for all.
“People don’t get out of the friend zone very easily with me,” the 34-year-old Bajan beauty said. “And I certainly took a while to get over how much I know him and how much he knows me, because we also know how much trouble we can land each other in.”
She also recalled taking a tour bus with A$AP from Los Angeles to New York during the summer of 2020 — a trip which had left quite the impression on Rih-Rih. “I love the simple things but also the grand adventures,’ she continued, recalling the time they spent together on the road. ‘There’s no pretentious my-brand-your-brand bulls**t, it’s just us living. I just feel like I can do any part of life by his side,” she added.
“What I love the most about us? Transparency with everything: how we’re feeling, what our goals are, what our fears and insecurities are. The vulnerability to be able to say what you feel about each other.”
https://www.essence.com/news/money-career/beyonce-rihanna-invest-french-design-brand-destree/