NEW YORK & NASHVILLE, Tenn.--(BUSINESS WIRE)--Consortium Brand Partners (“CBP”), a consumer-focused investment manager, has acquired a majority ownership stake in Draper James, the fashion and lifestyle brand founded by actress, producer and entrepreneur Reese Witherspoon.
As outlined in the agreement, Consortium Brand Partners will now hold approximately a 70% position of the company’s ownership while maintaining a collaborative partnership with the existing Draper James management team, led by CEO Erin Moennich, CFO & COO Sarah Foley, and Head of Design, Kathryn Sukey. Reese Witherspoon will remain a partner and board member in the business, working closely with CBP to guide its strategic direction and growth.
"We are thrilled to partner with Reese and the entire Draper James team," said Cory M. Baker, Managing Partner of Consortium Brand Partners. "Draper James is a beloved American brand with a thoughtful aesthetic that has resonated with women across the country. We are excited to collaborate with Reese, tapping into the ethos of her brand and reaching even greater heights, as we expand the brand with new product offerings, across retail, domestically and internationally."
Founded in 2015 and named after Witherspoon’s grandparents, Draper James has gained prominence for its timeless style, offering a range of clothing, accessories, and home décor items that capture the essence and elegance of her Southern heritage. With its unwavering commitment to design, quality and meticulous attention to detail, the brand has rapidly generated a dedicated following among fashion-conscious consumers.
Draper James will continue to be available for purchase at DraperJames.com and its three retail stores, including its flagship location in Nashville, TN. Additionally, the brand will extend its presence globally to premium department and specialty stores, along with expanding its exclusive RSVP collection with Kohl’s.
"Draper James was inspired by a deep personal connection to my roots, my family, and the women who shaped me. It’s been so amazing to see so many women connect with this brand, our products, and our mission to bring a little southern joy into everyone’s homes and wardrobes,” said Witherspoon. “We are excited to join forces with the team at Consortium, who understand our vision as a company and the importance of our community. They are the perfect partners for Draper James as we continue to grow and build this brand and I’m looking forward to this next phase in our journey.”
The acquisition of Draper James marks a significant milestone as the inaugural addition to Consortium Brand Partners’ portfolio of consumer brands. The firm is led by industry veterans Cory M. Baker, Michael DeVirgilio and Jonathan Greller, a cohesive management team, with a long track record of partnering with strong brands and leveraging their collective expertise across operations, marketing, and finance to drive growth and success.
Consortium Brand Partners received advisory services from Winston & Strawn, LLP, while Draper James was advised by Solomon Partners and ArentFox Schiff, LLP throughout the course of the transaction.
About Consortium Brand Partners (“CBP”)
Consortium Brand Partners is a fund manager built by operators and business leaders with years of experience in managing and investing in global brands and diverse teams across various consumer sectors. Backed by strategic and institutional limited partners, the firm partners with successful brands to unlock value and scale through global expansion.
For more information, visit www.consortiumbrandpartners.com.