Gérard and Alain Wertheimer and the Bettencourt Meyers, owners of Chanel and L’Oréal respectively, have acquired a stake in The Row, the New York Quiet Luxury brand launched by the Olsen sisters. Natalie Massenet, former founder of Net-à-porter, and Lauren Santo Domingo, former editor-in-chief of American Vogue, are also rumored to be among the investors in the house, which is preparing to open its first boutique in Paris.
The Row gains visibility in France…
Two emblematic French luxury families, the brothers Gérard and Alain Wertheimer, owners of Chanel, and the Bettencourt Meyers, who own a third of L’Oréal’s shares, have both taken minority stakes in its capital. The news is sure to get people talking about the New York fashion brand, launched by the Olsen twins, asit prepares to open its very first boutique in Paris…
According to Bloomberg, the Wertheimers and Bettencourt Meyers were backed by their respective family offices, Mousse Partners for the former and Tethys Invest for the latter. According to the agency, the transaction would value The Row at $1 billion…
Natalie Massenet and Lauren Santo Domingo, two other new shareholders
According to other sources, two other investment funds launched by fashion professionals have also taken symbolic shares in The Row, albeit on a more confidential basis. These areImaginary Ventures, the venture capital structure co-founded by fashion entrepreneur Natalie Massenet (founder of Net-à-porter, since acquired by Richemont) and Nick Brown, andSaint Dominique Capital, the private fund of former American Vogue editor Lauren Santo Domingo, co-founder of online fashion retailer Moda Operandi.
Whatever happens, the 38-year-old twins Mary-Kate and Ashley Olsen are far from going away. Theyretain a majority stake in The Row…and thus control of their House’s DNA.
The Olsen sisters first came to prominence at the age of…six months, in the late ’80s, when they appeared in a number of American TV series, starting with “Full House”. They then demonstrated their keen sense of fashion, launching The Row in 2006.
18th in the Lyst ranking
La Maison is already proving a great success. In 2023, The Row entered Lyst’s quarterly ranking of the world’s most influential fashion brands for the first time, ranking 18th!
The brand’s success is based on the same levers that have driven the success of many fashion labels in recent years. Basically, the aura of the Olsen sisters has created a buzz, reinforced by the infatuation for their label of celebrities well known to the general public, and not only across the Atlantic, such as Jennifer Lawrence, Kendall Jenner and genderfluid singer Harry Styles!
This People communication is skilfully counterbalanced by a sense of discretion deployed on other fronts.
During its Autumn-Winter 2024-2025 show at Paris Fashion Week, The Row asked its small handful of guests to “refrain from taking photos or broadcasting images during the experience”. A bold move in this age of omnipotent smartphones and social networks! But also a clever way of showing that The Row doesn’t need a multitude of flashbulbs to be desired.
Quiet Luxury
Another asset is the quality of its products, positioned in the famous buoyant “Quiet Luxury” segment, a response to customers still keen to stand out but tired of the excesses of the Bling Bling trend, with its mega-logos and other glitter.
Starting with the idea of creating the perfect “tee shirt”, the Olsen sisters then extended their proposal to other clothing and accessories for women, then for men since 2018. The common thread? A restrained Anglo-Saxon chic, expressed, according to Vogue France, by the brand’s choice of name, inspired by “Savile Row”, the famous street home to the cream of London tailoring.
The Row’s flagship pieces include cashmere and silk sweaters priced at 3,000 euros, cotton trench coats at 4,000 euros, wool coats at 4,500 euros and thigh-high boots at 4,750 euros.
Her it bag, the Margaux, displayed by Kendall Jenner herself, sells for over 4600 euros. And according to the trade press, some even compare it to Hermès!
First boutique in Paris
Thanks to its collections and well-thought-out strategy, The Row hasconquered the English-speaking world, opening three boutiques in the United States (New York, Amagansett (Hamptons) and Los Angeles) and one in Great Britain (London). And it will soon set up its first flagship in France, in the 1st arrondissement of Paris, according to specialist media outlet Fashion Network.
The luxury brand also offers its models via its website and dozens of retailers.
Fashion and luxury aristocracy
By becoming shareholders, the Wertheimer and Bettencourt Meyers families have endorsed the Olsen sisters as deserving members of the luxury fashion aristocracy.
Aware that the historic Houses they represent risk sclerosing without new blood, the mature heirs are turning to start-ups to keep them moving forward.
Téthys, the fund owned by the Bettencourt Meyers family, has already invested in the fashion sector, acquiring a stake in Sézane, a French brand that stands out for its disruptive model. But it has also stepped out of the family’s comfort zone, by investing in Ceva Sante, a manufacturer of pharmaceutical products and vaccines for animals.
Managed by Charles Heilbronn, Alain and Gérard Wertheimer’s half-brother, the Mousse Partners fund has opted for start-ups operating in different fields, such as digital advertising (Brightside Health), biotechnology (Evolved by Nature) and healthcare (Thirty Madison).
With its new prestigious sponsors, The Row has given itself the means to grow even further, and in particular to make its mark in old Europe. In this respect, the Paris boutique will be a first to watch closely.
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Featured Photo: © The Row
