The Row: A Billion Dollar Brand with New Investments from Chanel and L’Oréal Heiress
The Olsen sisters, Mary-Kate and Ashley, have taken the fashion world by storm with their luxury brand, The Row. And now, with new investments from the family behind Chanel and the billionaire heiress of L’Oréal, the brand is set to reach new heights.
According to Bloomberg, the Wertheimer brothers, who own Chanel, have purchased a minority stake in The Row through their family office, Mousse Partners. And L’Oréal heiress, Francoise Bettencourt Meyers, has also invested in the brand through her family vehicle, Tethys Invest.
But they’re not the only ones jumping on board. Fashion entrepreneur Natalie Massenet, former executive chairman of Net-a-Porter, is also set to invest in The Row through her company, Imaginary Ventures, with Nick Brown.
While the Olsen sisters will still remain as majority shareholders, this new investment is expected to bring the company’s valuation up to a whopping $1 billion USD. Representatives from all parties have declined to comment, but it’s clear that The Row is on the rise.
Known for their quiet luxury and exclusivity, The Row has become one of the most sought-after brands in the world. Their handbags, like the Margaux, consistently sell out, even with a price tag of $7,000 USD.
The family behind Chanel, the Wertheimers, are part of a trio of France’s wealthiest dynasties. Their family office, Mousse, has a diverse portfolio of investments, including in digital advertising, biotechnology, and healthcare.
And let’s not forget about the Meyers family’s Tethys, who have also made notable investments in French label Sezane and Ceva Sante, a company known for producing pharmaceutical products and vaccines for animals. Bettencourt Meyers, the billionaire heiress to L’Oréal, has a fortune estimated at $84 billion USD, mostly from her controlling stake in the company.
With these new investments, The Row is sure to continue its reign as one of the most coveted brands in the world. And with the backing of such prestigious names, it’s clear that the Olsen sisters have solidified their place in the fashion industry.
