Jacquemus is transferring into magnificence, with backing from one of many business’s largest gamers.
French cosmetics big L’Oréal has taken a minority stake within the buzzy French model, underpinning a long-term magnificence partnership introduced Friday. The monetary phrases of the deal weren’t disclosed.
Jacquemus’s charismatic founder and designer Simon Porte Jacquemus has fastidiously guarded his model’s independence since its founding in 2009, however flagged final 12 months that he was searching for a minority investor to assist the label develop.
Jacquemus is one among style’s best-known names, particularly amongst younger Gen-Z customers.
The model grew steadily within the wake of the pandemic, with gross sales exceeding €270 million ($290 million) in 2023. However in an more and more uneven luxurious market dominated by conglomerates, the designer felt a deep-pocketed backer was wanted to push the enterprise to the subsequent degree.
“I worth my independence, I need to move down this firm to my kids, however I’ve to interrupt by the glass ceiling by discovering the best accomplice,” Jacquemus advised French newspaper Le Figaro in October.
A push into magnificence has been lengthy awaited. In 2021, Spanish perfume and style home Puig took a ten p.c stake within the firm with a view to launch a magnificence line; the plan was later aborted and Jacquemus repurchased the stake the next 12 months.
L’Oréal’s funding comes at a pivotal time for the model, because it seeks to maintain momentum in a difficult luxurious market. The corporate opened a flurry of recent shops in New York, London and LA final 12 months, its first worldwide doorways. Alongside the retail push, it has pursued an elevation technique, growing costs and switching a lot of its manufacturing to Italy.
For its half, L’Oréal is doubling down on status magnificence: This week, it additionally took a minority stake within the Omani luxurious perfume home Amouage.
The Jacquemus magnificence line will likely be housed underneath L’Oréal’s Luxe division, alongside merchandise underneath license from the likes of YSL, Prada and Valentino manufacturers. L’Oréal additionally owns the style home Mugler, which it bought from French magnificence firm Clarins in 2020.
In a press release, Cyril Chapuy, president of L’Oreal Luxe, stated Jacquemus has “excellent luxurious magnificence potential”, calling out its “singular model positioning”, creativity and social-media savvy.
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