Jacquemus seeks minority investor to fund expansion into beauty
Luxury fashion brand Jacquemus, which is set to open its first store in London next month, has confirmed it is seeking a minority investor to fund its retail expansion and foray into beauty.
In 2021, Jacquemus planned to partner with Puig on a beauty venture. At the time, Puig acquired a 10% stake in the company, but the plan was aborted and Jacquemus repurchased the stake.
Now, Jacquemus had retained Rothschild & Co. to help it find a minority investor to help it grow in the US, Europe and Asia and fund it's beauty expansion. This comes as luxury faces a slump, which is expected to negatively impact the French brand's revenues in the upcoming year.
"I value my independence, I want to pass the business on to my children, but I need to break the glass ceiling by finding the right partner who will remain a minority shareholder,” Founder Simon Porte Jacquemus told the French daily Le Figaro.
"This is a very positive step for Jacquemus and its teams. Talks are well advanced, but I can’t say more at this stage. We’re also considering diversifying into beauty," he added.
After a grand opening in New York's Soho earlier this month, Jacquemus is set to open a shiny new store in London's Mayfair on 15 November.
In a statement Jacquemus said: "I feel extremely proud to be able, independently, to have opened boutiques in Paris, Saint-Tropez, Courchevel, Dubai, New York and now London. It’s a very special moment for the brand and its growth."