L’Oréal Invests in Jacquemus, Inks Beauty Deal

Jacquemus is moving into beauty, with backing from one of the industry’s biggest players.

French cosmetics giant L’Oréal has taken a minority stake in the buzzy French brand, underpinning a long-term beauty partnership announced Friday. The financial terms of the deal were not disclosed.

Jacquemus’s charismatic founder and designer Simon Porte Jacquemus has carefully guarded his brand’s independence since its founding in 2009, but flagged last year that he was looking for a minority investor to help the label grow.

Jacquemus is one of fashion’s best-known names, especially among young Gen-Z consumers.

The brand grew steadily in the wake of the pandemic, with sales exceeding €270 million ($290 million) in 2023. But in an increasingly choppy luxury market dominated by conglomerates, the designer felt a deep-pocketed backer was needed to push the business to the next level.

“I value my independence, I want to pass down this company to my children, but I have to break through the glass ceiling by finding the right partner,” Jacquemus told French newspaper Le Figaro in October.

A push into beauty has been long awaited. In 2021, Spanish fragrance and fashion house Puig took a 10 percent stake in the company with a view to launch a beauty line; the plan was later aborted and Jacquemus repurchased the stake the following year.

L’Oréal’s investment comes at a pivotal time for the brand, as it seeks to sustain momentum in a challenging luxury market. The company opened a flurry of new stores in New York, London and LA last year, its first international doors. Alongside the retail push, it has pursued an elevation strategy, increasing prices and switching much of its production to Italy.

For its part, L’Oréal is doubling down on prestige beauty: This week, it also took a minority stake in the Omani luxury fragrance house Amouage.

The Jacquemus beauty line will be housed under L’Oréal’s Luxe division, alongside products under license from the likes of YSL, Prada and Valentino brands. L’Oréal also owns the fashion house Mugler, which it purchased from French beauty company Clarins in 2020.

In a statement, Cyril Chapuy, president of L’Oreal Luxe, said Jacquemus has “outstanding luxury beauty potential”, calling out its “singular brand positioning”, creativity and social-media savvy.

Stay tuned to BoF for updates on this developing story.