Reese Witherspoon has made another big change in her professional life.
According to CNN, the 47-year-old actress and producer sold a majority stake in her fashion line. James Draper.
Keep reading to know more…
A private equity group called Consortium Brand Partners reportedly acquired the brand by purchasing a majority stake in it.
The actual amount was not disclosed, but the group shared that they now have a 70% stake. Reese will remain a partner and member of the company’s board of directors.
“Draper James was inspired by a deep personal connection to my roots, my family, and the women who shaped me. “It has been incredible to see so many women connect with this brand, our products, and our mission to bring a little Southern joy to everyone’s homes and closets,” Reese shared in a statement. “We are excited to join forces with the Consortium team, who understands our vision as a company and the importance of our community.”
After sale, James Draper It is expected to expand to department stores, pet store chains and overseas locations.
Reese launched the brand in 2015, which includes clothing, accessories and home goods.
Just a few years ago, Reese made headlines when he stole a majority stake in his production company, Hello Sunshine, for nearly $1 billion.
Categories: Biography
Source: vcmp.edu.vn