Simon Porte Jacquemus, the charismatic French designer known for his sun-soaked, pop minimalist aesthetic, is seeking a minority investor to support his brand’s expansion, the company confirmed Thursday. In a luxury market dominated by corporate mega-brands, the designer has decided he needs additional funding to take his business to the next level, notably by opening new stores.
“I value my independence, I want to pass down this company to my children, but I have to break through the glass ceiling by finding the right partner, who would only have a minority,” Jacquemus told French newspaper Le Figaro.
In its first retail push outside France, Jacquemus inaugurated a flagship store in New York’s Soho neighbourhood earlier this month, with openings in London’s New Bond Street and Los Angeles’ Melrose Avenue slated for November and February, respectively.
The brand has grown exponentially since the pandemic, with sales topping €270 million ($290 million) in 2023. The massive turnout for the New York opening confirmed its continued appeal to shoppers, particularly among Gen-Z clients for whom Jacquemus has long been one of fashion’s best-known names.
Now, the brand is seeking to keep up momentum in a difficult market for luxury and designer fashion worldwide. Its Avenue Montaigne flagship took a hit as shoppers snubbed Paris during this summer’s Olympic Games.
“Avenue Montaigne took the drop in visitors head on this summer,” Jacquemus told Le Figaro. “In reality we are doing quite well considering we’re the smallest house on the avenue, with more accessible prices that result in a lower average basket size.”
Jacquemus’ digital-first strategy needs a shake-up as customers pull back on e-commerce, contributing to the collapse of multi-brand e-tailers and a renewed focus on brick-and-mortar experiences across the industry.
A previous attempt to fund growth by launching a beauty line with investment from Puig fizzled; the designer reportedly scuttled the line and bought back the Spanish group’s 10 percent stake.
Jacquemus’ comments to Le Figaro confirm an earlier report by Miss Tweed.
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