French cosmetics giant L’Oréal has struck a partnership deal with Jacquemus that includes L’Oréal taking a minority stake in the Paris-based independent fashion label, the group said on Friday, February 7. L’Oréal’s stake is 10% for “a little less than 100 million” euros, according to a source close to the matter.
L’Oréal is expected to launch the first Jacquemus beauty products within 18 months, the time needed to develop a fragrance. A year ago, the group bought the Miu Miu license and is expected to launch its fragrance in the second half of the year.
Yesterday, L’Oréal reported a turnover of 43.48 billion euros in 2024, a 5.6% increase from 2023, with perfume sales growing by 14%.
“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,” commented Cyril Chapuy, President of L’Oréal Luxe.
Founded in 2009 by Simon Porte Jacquemus, the fashion label is a favorite among fashion enthusiasts and celebrities, with its shows consistently generating high anticipation.
“Fifteen years ago, I began dreaming of and creating Jacquemus, with perfume and beauty always part of my vision for the brand,” said Simon Porte Jacquemus, in the media statement announcing the partnership.
While the growth of the brand has been fueled by a strong and innovative digital-first approach, Jaquemus recently inintiated expansion into retail and was looking for a financial backup to fund the opening of new stores across the globe.
“We have no intention of increasing our stake in Jacquemus,” stressed Nicolas Hieronimus, CEO of L’Oréal Groupe].
This partnership “is a great way to show Simon that we support him, and it helps him develop his retail projects. That suits me perfectly,” he added.
