PARIS – L’Oréal has made a minority funding in Jacquemus to fund the French style home’s ongoing retail development and growth into magnificence, the 2 firms mentioned on Friday.
“Jacquemus is delighted to announce a long-term, unique magnificence partnership with L’Oréal Group, additional solidified by a minority funding supporting their unbiased growth,” Jacquemus mentioned in an announcement.
The 15-year-old model confirmed in October that it was searching for extra funds for its subsequent part of retailer openings in 2025 and 2026, and to assist it discover the brand new class.
“We’re thrilled to welcome Jacquemus and unleash collectively its excellent luxurious magnificence potential. With its singular model positioning, fueled by sensational creativity and social first playfulness, Jacquemus will completely complement L’Oréal Luxe’s portfolio of iconic manufacturers and reinforce our worldwide management,” mentioned Cyril Chapuy, president of L’Oréal Luxe.
“Fifteen years in the past, I started dreaming of and creating Jacquemus, with fragrance and sweetness all the time a part of my imaginative and prescient for the model. At present, I’m proud to proceed shaping this dream with the main magnificence group, L’Oréal. I’m excited to see what the long run holds for us,” mentioned Simon Porte Jacquemus, president, founder and inventive director of Jacquemus.
Jacquemus spring 2020.
Dominique Maitre/WWD
Recognized for staging cinematic runway shows in spectacular areas together with a lavender subject, a salt mine and the Palace of Versailles, the model posted revenues of 270 million euros in 2023.
Jacquemus has been doing double responsibility as artistic director and chief government officer for the reason that departure in December 2023 of Bastien Daguzan. In response to market sources, Celine North America president Sarah Benady is poised to fill the position, WWD reported on Jan. 28.
Daguzan mentioned in 2022 that Jacquemus had a medium-target of 500 million euros in revenues by 2025, due to hovering gross sales of Chiquito purses and Artichaut bucket hats, however that concentrate on now seems unrealistic.
Whereas the label has not shared income projections for 2024, it’s anticipated to take a success as aspirational customers tighten their pursestrings.
