A funding round valued at $1 billion has seen the billionaire brothers behind Chanel and an heiress from the L’Oréal empire acquiring shares in the upscale fashion label The Row launched by the Olsen twins.
According to sources familiar with the case, the Wertheimer brothers, who run the luxury brand Chanel, and Francoise Bettencourt, who is the granddaughter of Eugène Schueller, the founder of L’Oréal, both bought small shares in The Row through their own family offices.
High-end clothing brand Mary-Kate and Ashley Olsen, twin sisters, started The Row in 2006. They played the same character, Michelle Tanner, on the long-running TV series Full House from 1987 to 1995.
The Row now has four shops around the world. They are in London, New York, Los Angeles, and the Hamptons town of Amagansett, where celebrities like Gwyneth Paltrow, Lou Reed, and Paul McCartney have owned second homes.
The Wertheimer brothers bought a small share in The Row through their family office, Mousse Partners, which has offices in Beijing, Hong Kong, and the Cayman Islands as well as New York.
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Bettencourt’s Massive Fortune
Bettencourt has a fortune worth $85.9 billion, making her the second richest woman in the world after Alice Walton, the owner of Walmart. The daughter put money into The Row through Téthys, the family business that owns the most shares in L’Oréal.
It’s still not clear how much the two family offices’ investments are worth. There will likely be more backers, though, and the round of funding will likely value The Row at $1 billion.
Alain and Gerard Wertheimer are ranked 29th in the world as the wealthiest individuals, according to the Bloomberg Billionaires Index. Their combined assets total an impressive $43.3 billion. The combined wealth of the brothers would rank them 19th globally, just trailing Nvidia CEO Jensen Huang.
People know The Row for its coats, bags, and sweaters with simple designs that cost a lot of money each. The clothes from this brand have a cult-like following among stylish people like Margot Robbie, Meghan Markle, and Kendall Jenner.
Oliver Sarkozy is the half-brother of former French President Nicolas Sarkozy and Mary-Kate Olsen married him in 2014. They got a split during the COVID-19 pandemic. Louis Eisner is an artist who is married to Ashley Olsen.
FAQs
The Olsen twins, Mary-Kate and Ashley Olsen are The Row’s founders and creative directors. They have been instrumental in shaping the brand’s minimalist aesthetic and luxury appeal.
While there have been no official collaborations between Chanel and The Row, it’s possible that the shared investor, Liliane Bettencourt, has played a role in fostering a connection between the two brands.
