Jacquemus faucets into the fragrance market with L’Oréal taking a stake

French cosmetics big L’Oréal has struck a partnership cope with Jacquemus that features L’Oréal taking a minority stake within the Paris-based impartial trend label, the group mentioned on Friday, February 7. L’Oréal’s stake is 10% for “rather less than 100 million” euros, in keeping with a supply near the matter.

L’Oréal is anticipated to launch the primary Jacquemus magnificence merchandise inside 18 months, the time wanted to develop a perfume. A yr in the past, the group purchased the Miu Miu license and is anticipated to launch its perfume within the second half of the yr.

Yesterday, L’Oréal reported a turnover of 43.48 billion euros in 2024, a 5.6% improve from 2023, with fragrance gross sales rising by 14%.

“We’re thrilled to welcome Jacquemus and unleash collectively its excellent luxurious magnificence potential. With its singular model positioning, fueled by sensational creativity and social first playfulness, Jacquemus will completely complement L’Oréal Luxe’s portfolio of iconic manufacturers and reinforce our worldwide management,” commented Cyril Chapuy, President of L’Oréal Luxe.

Based in 2009 by Simon Porte Jacquemus, the style label is a favourite amongst trend lovers and celebrities, with its exhibits constantly producing excessive anticipation.

“Fifteen years in the past, I started dreaming of and creating Jacquemus, with fragrance and sweetness at all times a part of my imaginative and prescient for the model,” mentioned Simon Porte Jacquemus, within the media assertion saying the partnership.

Whereas the expansion of the model has been fueled by a robust and revolutionary digital-first strategy, Jaquemus just lately inintiated growth into retail and was in search of a monetary backup to fund the opening of recent shops throughout the globe.

“We’ve got no intention of accelerating our stake in Jacquemus,” careworn Nicolas Hieronimus, CEO of L’Oréal Groupe].

This partnership “is a good way to indicate Simon that we assist him, and it helps him develop his retail initiatives. That fits me completely,” he added.