Chanel Owners, L'Oreal Heir Said to Invest in Olsens' The Row [BNN Bloomberg (Canada)]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
Company Research
Source: BNN Bloomberg
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. Other investors are also likely to join the deal, which values The Row at about $1 billion, the people said. Mousse, Tethys and The Row 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 presents its collections during Paris fashion weeks. It offers leather handbags like the Margaux, which can cost about $7,000. Last year, Mousse, the firm headed by Alain and Gerard Wertheimer's half-brother Charles Heilbronn was among a trio of France's wealthiest dynasties to help take private Rothschild & Co. inve
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