Cameron Diaz, Mila Kunis and Gabrielle Union Invest in Autumn Adeigbo Fashion Brand
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Autumn Adeigbo has some new investors — including Cameron Diaz, Mila Kunis and Gabrielle Union — bringing the designer’s total funding for her nameplate brand to approximately $4.2 million.
The designer and founder of the women’s ready-to-wear, accessories and footwear brand first met Diaz and Kunis at a retreat hosted by Gwyneth Paltrow and Brit Morin. There, the trio bonded over shared interests, such as entrepreneurship and technology, before Adeigbo brought the actresses on board as investors.
“If you would have told me years ago that Cameron and I would become friends let alone business allies I would have never believed you,” Adeigbo said. “I have been a fan of Cameron for so long and her light transcends what America fell in love with on screen. I am so excited she is shining her kindness, humor, beauty and intelligence my way.
“I have been a fan of Mila for so long,” the designer added. “Words don’t describe how much I look up to her. She is such a pillar of cultural excellence, activism and entrepreneurship, let alone the impact she has made in Hollywood. I couldn’t be happier that Mila found my company in alignment with her fashion and entrepreneurial passions.”
Turns out the admiration is mutual. Diaz said Adeigbo’s presence lights up any room.
“And her designs, no matter who’s wearing them, do the same,” said the actress and wine entrepreneur. “She is a star and her ability to shine her light through her designs is what makes them so desirable. I’m thrilled and honored to be part of her journey.”
Kunis added: “Upon meeting, Autumn and I had an immediate connection. I saw the fire in her eyes as the determination I recognize in successful entrepreneurs that tells me they won’t give up on the difficult start up path. Combined with Autumn’s talent and the early market response to the brand’s product, investing was a no-brainer for me.”
Actress Gabrielle Union joined the list of investors later, after discovering the brand on her own.
“Gabrielle has been so unbelievably supportive of me and my dreams; she is very outspoken with her support of Black women and female entrepreneurship,” Adeigbo said. “Her cultural expertise extends past her deep impact in Hollywood into her business acumen.”
The designer, who is known for eye-catching dresses in bright colors and equally dazzling accessories, secured the first $1.3 million in 2020 from Stitch Fix’s founder and former chief executive officer Katrina Lake; venture capital firm Fuel Capital’s founder Chris Howard, as well as general partner Leah Solivan, who is the founder and former CEO of TaskRabbit; Sonja Perkins, founder of angel investment group Broadway Angels, and female investment network Pipeline Angels.
The following year, Adeigbo secured nearly $3 million more in funding, led by venture capital firm Offline Ventures cofounders Dave Morin and Brit Morin.
All of this during a pandemic. In fact, while the whole world was shut down and retailers everywhere were struggling with supply chain issues, Adeigbo was growing her business, convincing not just venture capitalists, but retailers to invest in her brand. In addition to the e-commerce site, the brand is now available at Bergdorf Goodman, Neiman Marcus, Intermix, Nordstrom, Shopbop, Elyse Walker, Rent the Runway, Hampden Clothing and more.
There have also been category expansions. Most recently, the Autumn Adeigbo brand expanded to include footwear, bags and a home collection. Boots, berets, gloves and expanded assortment of knitwear are coming in the fall in a collection that was inspired by “a Parsian house party,” Adeigbo said. (Look for lace-up leggings, hand-embroidered appliqués, lace and lots of patterns, including tiger stripes, florals and polka dots.)
Adeigbo was also asked to join the Council of Fashion Designers of America last fall. In April of this year, Adeigbo was awarded the “Fashion Designer on the Rise” award at the Neiman Marcus-sponsored National Black Arts’ Fine Art + Fashion Awards. The following month, Tory Burch — one of Adeigbo’s mentors — asked the designer to speak in a tribute video to Burch at the annual Parsons Benefit, alongside Anna Wintour and Proenza Schouler Founders Lazaro Hernandez and Jack McCollough. (Adeigbo was named a Tory Burch fellow at the Tory Burch Foundation in 2019.)
Meanwhile, Adeigbo’s celebrity fan base continues to grow with Kelly Clarkson, Jessica Alba, Selma Blair, Zooey Deschanel, Kerry Washington, Lizzo, Mindy Kaling, Busy Philipps, Amanda Gorman, Kristen Bell, Katherine Schwarzenegger, Rocky Barnes, TikTok star Charli D’Amelio and more wearing her designs.
This story originally ran on WWD.
source : https://www.hollywoodreporter.com/lifestyle/style/designer-autumn-adeigbo-new-celebrity-investors-1235170076/