Andrea Hyde, chief executive officer of Reese Witherspoon’s lifestyle brand Draper James, is exiting the company for personal reasons and will be succeeded as interim ceo by Taylor Rettig, who has been an investor and adviser at the company since its inception.
“It has been an honor and pleasure to build this brand with Reese and the amazing team at Draper James. I leave knowing the company is poised to break through and be one of the great success stories. I could not be prouder of what we have accomplished,” Hyde told WWD in a statement.
Witherspoon added, “Andrea has been pivotal in bringing this brand to life. She took an idea on paper and created a full-fledged lifestyle brand with four bricks-and-mortar stores, a robust online store and a stellar team. I am deeply grateful for her hard work, her vision and her professionalism. While she will be deeply missed, I feel confident that Taylor Rettig is the right person to lead Draper James during this transition to a new ceo.”
It remains to be seen whether Rettig will become the permanent ceo, but he has over a decade of consumer and retail investing and operating experience under his belt, having focused on multichannel apparel and accessories brands before Draper James. Rettig led investment in Alex + Ani in 2012, then joined the company full-time in 2013 as chief strategy officer, where he guided growth from $45 million to $300 million-plus in annual revenue in two years. The company was valued at $1 billion at exit.
He is also a board member and adviser at Greats, the digitally native Brooklyn-based sneaker brand, and led investment in J. McLaughlin, which he helped grow from a regional brand with 30 stores to a national presence with 100-plus stores and revenue approaching $100 million at exit.