Billionaire L'Oreal heiress, Chanel owners buy stake in Olsens' fashion brand [Fortune]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
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Source: Fortune
The Wertheimer brothers, via their family office Mousse Partners , and Francoise Bettencourt Meyers' family vehicle, Tethys Invest, have bought a minority stake in the fashion brand, according to people familiar with the situation, who asked not to be named discussing matters that aren't public. Imaginary Ventures, co-founded by fashion entrepreneur Natalie Massenet, and Saint Dominique Capital, a fund backed by businesswoman Lauren Santo Domingo, are also investing in the label, people familiar with the matter said. The Olsen sisters will remain The Row's majority shareholders. The transactions value the company at about $1 billion, the people said. Representatives for Mousse, Tethys, The Row, Imaginary Ventures and Saint Dominique declined to comment. The Row was started in 2006 by sisters Mary-Kate and Ashley Olsen, who shot to fame as child actresses in the late 1980s in the sitcom Full House . Their label has established itself as a respected quiet luxury player and presen
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