The Row receives investment from Chanel and L'Oréal owners

Paris - The Wertheimer brothers and the Bettencourt family, respective owners of Chanel and L'Oréal, have acquired a minority stake in the American fashion brand The Row, owned by the Olsen sisters, AFP learned from a source close to the matter.

The brothers Gérard and Alain Wertheimer, owners of Chanel, invested via their "family office" Mousse Partners and the Bettencourt Meyers family, owner of L'Oréal, via its "family office" Tethys Invest, according to this source, which confirms information from Bloomberg.

Imaginary Ventures, a venture capital fund co-founded by fashion entrepreneur Natalie Massenet and Nick Brown, is also investing in the brand, the source confirms.

A fourth investor, "very much a minority compared to Mousse Partners and Tethys Invest" completes the round table, the source added to AFP. This is StDominique Capital, the private investment fund of Lauren Santo Domingo, co-founder and brand director of the online fashion retailer Moda Operandi.

The Row valued at one billion dollars

According to Bloomberg, the transaction values ​​The Row at $1 billion. Contacted by AFP, Mousse Partners and Tethys Invest did not respond.

The luxury brand The Row, owned by sisters Ashley and Mary-Kate Olsen, TV stars in the 1980s and 1990s, was founded in 2006. It is known for its minimalist style, which is part of the current trend of "quiet luxury", discreet luxury, and is due to open its first boutique in France soon, in the 1st arrondissement of Paris, according to the specialist website Fashion Network.

The brand only has four stores in the world, specifies Fashion Network, including three in the United States (New York, Amagansett in the Hamptons and Los Angeles), and one in London. "There is also a merchant site and several dozen hand-picked resellers," according to the media.

The brand offers items such as cashmere and silk sweaters for 3,000 euros, wool coats for 4,500 euros and leather handbags that can cost up to 7,000 euros. (AFP)