Reese Witherspoon Raises $10 Million to Build Draper James Lifestyle Brand
Posted on October 7, 2015
Reese Witherspoon has raised $10 million in venture capital financing to build her new lifestyle brand Draper James. The Series B financing round was led by Forerunner Ventures. Reese first announced the company in May.Reese, the co-founder and creative director of Draper James, says in a statement, "I am so thrilled by the overwhelming response to Draper James. Having sold in all 50 states and over 15 countries, it is clear that customers are really responding to our brand. Being born and raised in the South, I take great pride in the brand story. I am so excited to be partnering with such a great group of investors to make it possible for Draper James to broaden its product assortment and extend our reach."
Draper James will open its first retail store in Nashville later this month. The company sells products in the clothing, accessories, gifts, home, stationery and home decor categories. Draper James draws its inspiration from the American South.
Reese is wearing a Draper James statement sweatshirt that says "Hello, sugar" on it in the above photograph. It retails for $120.