Chanel and L’Oréal heiress back The Row with strategic investments

Chanel and L’Oréal heiress back The Row with strategic investments

Chanel and L’Oréal heiress back The Row with strategic investments

Chanel’s Wertheimer family and Françoise Bettencourt Meyers, heiress to L’Oréal, have made significant investments in The Row, the luxury fashion brand created by the Olsen twins. Both parties have acquired stakes through their family businesses, Mousse Partners (for Chanel’s owners) and Tethys Invest (for Bettencourt Meyers), marking a new chapter for the brand’s expansion.

According to Bloomberg, the Wertheimer family has entered The Row through their investment firm Mousse Partners, while Bettencourt Meyers invested via Tethys Invest. Additionally, renowned fashion entrepreneur Natalie Massenet, the former CEO of Net-a-Porter, has joined the investor group, placing her bet on the brand through her firm Imaginary Ventures, alongside Nick Brown.

Though Mary-Kate and Ashley Olsen retain majority control of The Row, the fresh financial backing could propel the brand’s valuation towards the prestigious $1 billion mark. So far, all involved have remained tight-lipped about the specifics of the deal.

The Row, known for its minimalist yet ultra-luxurious approach to fashion, has established itself as a top global player in the fashion world. Their high-profile move during Paris Fashion Week, where they banned social media coverage to enhance exclusivity, further cemented their reputation. Their iconic items, like the Margaux bag, continue to sell out despite hefty price tags of around $7,000.

With an estimated net worth of $43 billion, the Wertheimer family is no stranger to high-stakes investments in the luxury sector. Françoise Bettencourt Meyers, the L’Oréal heiress worth approximately $84 billion, has a similarly strategic eye, with prior investments in brands like Sézane and ventures in the veterinary pharmaceutical industry.

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