Yahoo Lifestyle Greyson Clothiers Completes $20M Capital Raise
Greyson Clothiers has some high-profile friends.
On Friday, the Detroit-based golf-turned-lifestyle brand created by former Ralph Lauren executive Charlie Schaefer completed a $20 million series A strategic growth capital raise with investors that included Justin Timberlake, football player Larry Fitzgerald, hockey player Dylan Larkin, country singer Eric Church and PGA pro Justin Thomas.
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The funding round was led by NewBound Ventures and Chris Koch, chief executive officer of New Era, with participation from Tom Nolan, CEO of Kendra Scott, and David Chu, founder of Nautica, along with existing investors.
Nolan and Chu will be joining the Greyson board of directors as will Michael Hoffman, founder and managing partner of NewBound.
The athletes and celebrities have participated in fundraising efforts in the past and are expected to help the company, both tactically and strategically, in its next phase of growth, the company said.
The new capital will enable Greyson, which has become known for its wolf logo, to further expand internationally, add brick-and-mortar retail stores, enhance its direct-to-consumer channels, as well as its wholesale partnerships. Today, Greyson operates stores in Denver; West Palm Beach, Fla.; New York; New Orleans, and Atlanta.
Additionally, with the recent addition of womenswear, Greyson is poised to move into a full-blown lifestyle brand for both genders.
“The opportunity to have these amazing individuals join our community is beyond a dream,” said Schaefer. “I have had the great fortune to develop strong friendships with all these inspiring and driven people. Our stories are now shared with the same motivation: to build a pack based of loyalty, passion and the motivation to create. With this raise, the dreams continue to get larger and we are so thankful to our pack. As we set forth into this next chapter, we’re excited to continue the narrative and embrace the unknown.”
Hoffman added: “We are excited to support Greyson as it continues to innovate and lead the market in premium performance lifestyle apparel. We are consistently impressed with their ability to create clear go-to-market strategies based off storytelling and specialized products.”
Schaefer created Greyson nine years ago and the company now has more than 2,500 points of distribution. The brand offers elevated and sophisticated everyday pieces influenced by golf, racquet sports and general fitness.
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