Mary-Kate and Ashley Olsen just got a major boost to their already lucrative fashion empire in the form of large investments from the family that owns Chanel and the billionaire heiress of L’Oréal.
The sisters’ luxury fashion label, The Row, is now valued at $1 billion after a series of investments from the French businesspeople.
Per Bloomberg, the Wertheimer brothers, who are part of the family who own Chanel, bought a minority stake in The Row through their family office Mousse Partners. L’Oréal heiress Francoise Bettencourt Meyers also invested through her family vehicle, Tethys Invest.
The Olsen twins, 38, will remain the major stakeholders in the ready-to-wear brand which they established in 2006, shortly after they retired from acting.
Through the brand, the sisters have established themselves in the quiet luxury sphere, focusing their brand on high-quality basics. The Row is considered one of the most sought-after ready-to-wear brands in the world, often selling out new designs swiftly.
“We love quality make, we love quality fabrics,” Ashley said of the brand in a 2023 interview with Financial Times. “It’s just been what we’ve done since the beginning. We love to learn about what is best-in-class in what we do, and how we can apply it to our business… And people have been attracted to the product and to the approach that we’ve taken.”
The brand also afforded the sisters a new level of privacy after they left Hollywood, going from two of the most photographed young celebrities to two of the most private stars.
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