The Row, the cult brand founded by the Olsen sisters, continues to make strategic moves and has now attracted high-calibre investment. New partners include the Wertheimer family, owner of Chanel, and Françoise Bettencourt Meyers, the billionaire heiress of L’Oréal. Both powers have acquired stakes in the brand through their family businesses, Mousse Partners and Tethys Invest.
According to Bloomberg, the Wertheimers have entered The Row through Mousse Partners, while Bettencourt Meyers has done the same through Tethys Invest. In addition, fashion entrepreneur Natalie Massenet, former CEO of Net-a-Porter, also joins the list of investors, betting on the brand through her firm Imaginary Ventures alongside Nick Brown.
Although Mary-Kate and Ashley Olsen retain majority control, this financial reinforcement could push The Row’s valuation to the mythical $1 billion mark. So far, all parties involved have chosen to keep quiet about the details.
The Row has established itself as one of the most desirable firms on the global stage. Recall their masterstroke at Paris Fashion Week, where they vetoed the use of social media, adding another layer of exclusivity to their narrative. Their iconic bags, such as the Margaux, continue to fly off the shelves despite their hefty $7,000 price tag.
With an estimated net worth of $43 billion, the Wertheimer’s are used to playing in the top league. Tethys de Bettencourt Meyers is following a similar path with investments in brands such as Sezane and in the veterinary pharmaceutical industry. The L’Oréal heiress, whose net worth is around $84 billion, knows how to move her chips.
Sigue toda la información de HIGHXTAR desde Facebook, Twitter o Instagram