As someone who has always admired the quiet luxury and sophistication that The Row embodies, this recent investment news has me absolutely thrilled! The Olsen twins have proven time and again that they are masters of understated elegance, and it’s only fitting that such esteemed figures in the fashion world are now part of their journey.
Recently, The Row – established by the Olsen sisters – has been looking to acquire more funding. Both the family behind the French luxury label Chanel and the wealthy heiress of L’Oréal cosmetics company have bought shares in the fashion line owned by the Olsen twins.
As reported by Bloomberg, the Wertheimer brothers, who are associated with Chanel’s family, and L’Oréal heiress Francoise Bettencourt Meyers have acquired a minority share in The Row through their respective entities, Mousse Partners and Tethys Invest, respectively. Fashion entrepreneur Natalie Massenet, previously the executive chairman of Net-a-Porter, along with Nick Brown, is also planning to invest in The Row through Imaginary Ventures. Despite this investment, the Olsen sisters will continue as The Row’s primary shareholders. This investment is anticipated to increase the company’s valuation to approximately $1 billion USD. At present, all parties involved have declined to provide comments on the matter.
Mary-Kate and Ashley Olsen have established themselves as prominent figures in the realm of understated elegance through The Row. Recently, The Row gained attention when it requested guests to abstain from using social media during its Paris Fashion Week presentation, further elevating its aura of exclusivity. The Row is recognized globally as one of the most coveted brands, with their handbags such as the Margaux frequently selling out, despite carrying a price tag of $7,000 USD.
The Wertheimer family, who own Chanel, are part of a select group of three French families with immense wealth. Their firm, Mousse, led by Charles Wertheimer (half-brother of Alain and Gerard), played a significant role in privatizing Rothschild & Co. investment bank. The family office is known for its diverse investments, such as digital advertising firm Brandtech Group, Brightside Health, biotechnology company Evolved by Nature, health-care provider Thirty Madison, among others. Brothers Alain and Gerard Wertheimer are reported to possess a net worth of approximately $43 billion USD. Tethys, the investment branch of the Meyers family, has notably backed French fashion label Sezane and Ceva Sante, a pharmaceutical company known for producing veterinary products and vaccines. The Bettencourt Meyers family’s fortune is primarily derived from their controlling interest in L’Oréal, with an estimated value of around $84 billion USD.
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2024-09-13 12:26