Greyson Clothiers secures 20 million US dollars to fuel growth

Detroit-based premium performance apparel brand Greyson Clothiers, the golf-turned-lifestyle brand created by former Ralph Lauren executive Charlie Schaefer, has completed a 20 million US dollar series A strategic growth capital raise.

The funding round was led by NewBound Ventures and Chris Koch, chief executive of NewEra, with participation from Tom Nolan, chief executive of Kendra Scott and David Chu, founder of Nautica, as well as ongoing support from existing investors.

The company also counts singer and actor Justin Timberlake, hockey player Dylan Larkin, football player Larry Fitzgerald, country singer Eric Church, and various PGA tour players, including Justin Thomas, as investors. Individuals that the brand said will “prove to be powerful both tactically and strategically in the next phase for Greyson”.

The new capital will enable Greyson, which is looking to merge fashion with sport to create performance-based apparel that offers “technical performance and refined sophistication,” to scale its operations and further expand internationally, add brick-and-mortar retail stores, and enhance its direct-to-consumer (DTC) channels and wholesale partnerships.

Currently, Greyson operates stores in Denver, West Palm Beach in Florida, New York City, New Orleans, and Atlanta.

The brand has also recent added womenswear and is looking to use the capital to help fuel the brand into a leader in the premium performance apparel market, as well as offering a full lifestyle offering for both genders.

Greyson Clothiers looking to expand growth and international reach with investment led by NewBound Ventures and NewEra's Chris Koch

Charlie Schaefer, founder and chief executive of Greyson Clothiers, said in a statement: "The opportunity to have these amazing individuals join our community is beyond a dream. 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.”

As part of the deal, Tom Nolan, David Chu and Michael Hoffman founder and managing partner of NewBound, will join the Greyson board of directors.

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 specialised products."

Schaefer, who gained more than 13 years of design experience at Ralph Lauren, founded Greyson in 2015 to offer elevated everyday pieces with technical properties, which stepped away from the traditional rulebook of golf and tennis fashion.