Is Jacquemus' independence about to come to an end ?

Although independence and creative and economic freedom are dear to the heart of Simon Porte Jacquemus, it seems he is now ready to make some compromises. While Jacquemus is once again entirely managed by its creator, he has reportedly contacted the investment bank Rothschild & Co with a view to selling a minority stake to a potential investor. This partner would help him pursue his distribution plan — which has so far favored the wholesale market (with partners such as Antonia, la Rinascente, Saks, and Bergdorf Goodman) — assist in the opening of several temporary stores (two years ago, he opened a pop-up of over 3,000 square meters in the center of Paris for six months), and support the massive communication strategy for which he is renowned, as well as his expensive and itinerant fashion shows, which, although not officially part of the Paris calendar, attract a varied number of celebrities and industry insiders.

While the investor has yet to be found, the first objective of accelerating the development of his direct stores seems to be well underway, with the recent inauguration of the very first Jacquemus store in North America, located in New York's Soho district. Following this grand opening and the transformation of the temporary store on Avenue Montaigne into a permanent one, London seems to be the next step. In 2022, during an interview with The Business of Fashion, the designer discussed his success and revealed that his turnover had exceeded 100 million euros in 2021 and was expected to double by the end of 2022, making Jacquemus, “the most successful French brand at its inception in over ten years”. The brand, which had meanwhile announced its goal of reaching 500 million euros by 2025, crossed the 200 million euro mark in 2022 before achieving the impressive figure of 280 million euros in 2023, according to Forbes. However, despite these successes and exciting prospects, the brand, like almost all others in the sector currently facing a period of crisis, seems to be experiencing a downturn. According to Miss Tweed, its turnover is expected to fall by 15 to 20% this year.

Last March, media exposure alongside LVMH had already triggered a wave of rumors about a potential “loss” of autonomy for Jacquemus and the brand's entry into the ranks of the luxury giant. However, the designer denied this rumor, stating that he wished to remain independent. He further added that he wanted to focus on growing his brand, which he has fully resumed control of after the departure of his former CEO last December, further dismissing rumors that he might take on the creative direction of a major fashion house. Although the brand will not be joining Bernard Arnault's team, Jacquemus now seems to have changed its mind and is looking for the rare pearl to help it in its projects.

Despite the challenges, Simon Porte Jacquemus seems to maintain a positive attitude — as evidenced on social media — especially in light of the long queue that snaked outside the 143 Spring Street store this weekend. This new store offers no less than 2,906 square meters of space over two floors. The young designer had even stated to WWD that "New York is an important market. America in general is really important. I think our story, our aesthetic, and our projects can be even more successful in the American market than they are today. This is something I really want to build. As an independent brand, opening a store (like this one) is no small feat. It requires a lot of investment, and it’s a new way of doing business for a young company". A major investment indeed, which may perhaps be lightened for the next store by a new member of the Jacquemus family. Stay tuned.