Reese Witherspoon tries to make deal stars align

Honest

06/09/2023 19:37

(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
    By Sharon Lam
       TORONTO, Sept 6 (Reuters Breakingviews) - The “Wild”
actor is selling 70% of her Draper James clothing line, two
years after Blackstone backed a buyout of her media firm. George
Clooney and Dr. Dre showcase the allure of celeb brands, but
ones involving Jessica Simpson and Jessica Alba turned fame to
financial shame.
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    CONTEXT NEWS
Private equity firm Consortium Brand Partners said on Sept. 6
that it had acquired a 70% stake in Draper James, the fashion
and lifestyle brand started by Hollywood actor Reese
Witherspoon. The “Legally Blonde” star will remain a partner and
board member in the business, helping guide its strategic
direction, Consortium added.           

 (Editing by Jeffrey Goldfarb and Aditya Sriwatsav)
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