L'Oréal has acquired a 10% stake in Jacquemus, marking its entry into the fashion world with plans to create exclusive perfumes. This partnership allows Jacquemus to expand into beauty while maintaining its independence.
L'Oréal announces a strategic partnership with the fashion house Jacquemus, acquiring a 10% minority stake in the brand founded by Simon Porte Jacquemus. This collaboration, valued at nearly 100 million euros, marks the entry of the cosmetics giant into the world of fashion, with the goal of creating exclusive perfumes for the brand.
This partnership is expected to lead to the first Jacquemus beauty products within 18 months, the time needed to create a fragrance. In 2024, L'Oréal reported a record revenue of 43.48 billion euros, up 5.6%, with a notable 14% increase in fragrance sales. These figures reflect the dynamism of the sector and the growing appeal of major fashion houses in the beauty world.
Cyril Chapuis, CEO of L'Oréal Luxe, expressed his excitement about the collaboration, praising Simon Porte Jacquemus' creative talent, calling him “an incredible creative genius.” According to him, couture brands like Jacquemus, alongside Miu Miu, Saint Laurent, and Prada, have enormous potential in the fragrance sector.
Jacquemus, which gained fame through its avant-garde collections and online sales network, is currently transforming with the opening of stores in Paris, London, Los Angeles, and Miami. The brand aims to further establish itself in retail while maintaining its independence, a goal dear to Simon Porte Jacquemus, who has always wanted to retain control of his company. “I value my independence,” said the designer, specifying that he wants to pass the company on to his children, while finding a partner who would remain a minority shareholder.
L'Oréal, for its part, does not plan to increase its stake in the brand and reaffirms its commitment to the beauty sector, rather than fashion. According to Nicolas Hieronimus, CEO of L'Oréal, the acquisition of fashion brands, such as Mugler in 2020, is part of specific operations. “We are very good in beauty, but I am not sure whether we are as good in fashion. So we let the experts manage their own brands,” he added.
For Simon Porte Jacquemus, this partnership with L'Oréal is an opportunity to continue his dream of diversifying his brand into beauty, a sector he has always seen as a natural extension of his universe. “Fifteen years ago, I started dreaming and creating Jacquemus, with fragrance and beauty always present in my vision for the brand,” he said, affirming that he feels ready to take this step alongside the world leader in beauty.
This collaboration, based on L'Oréal's expertise in beauty products and Jacquemus' declared independence, seems to align well with the aspirations of both parties.
With AFP
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