Jacquemus enters beauty market with L’Oréal investment
French fashion house Jacquemus is set to launch a beauty line in partnership with L’Oréal. The announcement was made just before L’Oréal’s annual earnings conference, marking Jacquemus’ first venture into beauty. The partnership includes a minority investment from L’Oréal.
Transaction snapshot
Deal value: N/A
Deal multiples: N/A
Deal type: Long-term partnership with minority investment
Investors: L’Oréal
Designer Simon Porte Jacquemus expressed enthusiasm for the collaboration, stating that beauty and fragrance have always been part of his brand vision. L’Oréal Luxe president Cyril Chapuy noted that Jacquemus’ creative and social-first approach complements L’Oréal’s luxury portfolio.
L’Oréal CEO Nicolas Hieronimus clarified that the company does not intend to increase its stake in Jacquemus, stating that its expertise lies in beauty, not fashion. The investment serves as an upfront payment for a license, helping Jacquemus develop its retail projects.
Chapuy indicated that the first Jacquemus beauty products will take approximately two years to develop, with fragrance being the most obvious starting point. Distribution will be selective, aligning with other L’Oréal Luxe brands like Prada and Valentino.
The deal follows L’Oréal’s acquisition of Miu Miu’s beauty license in February 2024, with products set to launch in late 2025. Jacquemus was previously in discussions with Spanish company Puig for a beauty partnership in 2021, but the deal never materialised.
Jacquemus remains a successful independent brand, reporting €270 million in turnover for 2023, up from €200 million in 2022 and €100 million in 2021. However, the designer noted that 2024 has been more challenging due to a broader luxury market slowdown and reduced foot traffic in Paris amid the Olympic Games.
Jacquemus is also seeking a minority investor to support growth while maintaining independence. The brand, founded in 2009, has grown without the backing of a major conglomerate. It has been without a CEO since December 2023, with reports suggesting ex-Celine executive Sarah Benady may take on the role.
The brand continues its global expansion, with store openings in Los Angeles planned for April 2025 and Miami in 2026. In March 2024, Jacquemus received the Chevalier de l’Ordre des Arts et des Lettres, France’s highest cultural honour.
