PARIS – L’Oréal has made a minority investment in Jacquemus to fund the French fashion house’s ongoing retail growth and expansion into beauty, the two companies said on Friday.
“Jacquemus is delighted to announce a long-term, exclusive beauty partnership with L’Oréal Group, further solidified by a minority investment supporting their independent development,” Jacquemus said in a statement.
The 15-year-old brand confirmed in October that it was looking for additional funds for its next phase of store openings in 2025 and 2026, and to help it explore the new category.
“We are thrilled to welcome Jacquemus and unleash together its outstanding luxury beauty potential. With its singular brand positioning, fueled by sensational creativity and social first playfulness, Jacquemus will perfectly complement L’Oréal Luxe’s portfolio of iconic brands and reinforce our worldwide leadership,” said Cyril Chapuy, president of L’Oréal Luxe.
“Fifteen years ago, I began dreaming of and creating Jacquemus, with perfume and beauty always part of my vision for the brand. Today, I am proud to continue shaping this dream with the leading beauty group, L’Oréal. I’m excited to see what the future holds for us,” said Simon Porte Jacquemus, president, founder and creative director of Jacquemus.
Jacquemus spring 2020.
Dominique Maitre/WWD
Known for staging cinematic runway displays in spectacular locations including a lavender field, a salt mine and the Palace of Versailles, the brand posted revenues of 270 million euros in 2023.
Jacquemus has been doing double duty as creative director and chief executive officer since the departure in December 2023 of Bastien Daguzan. According to market sources, Celine North America president Sarah Benady is poised to fill the role, WWD reported on Jan. 28.
Daguzan said in 2022 that Jacquemus had a medium-target of 500 million euros in revenues by 2025, thanks to soaring sales of Chiquito handbags and Artichaut bucket hats, but that target now appears unrealistic.
While the label has not shared revenue projections for 2024, it is expected to take a hit as aspirational consumers tighten their pursestrings.
