Jacquemus: A Coming of Age Story

0:04Hi, this is Imran Ahmed, founder and CEO of the Business of Fashion. Welcome to the BOF podcast. It's Friday, November 22nd. When Simon Port-Jacquemus first came onto the fashion scene in 2009, he did so with a bang. His brand's playful surrealist creations, inspired by the French New Wave, 20th century sculpture, and sunny afternoons in the south of France, became a viral sensation, leading him to build an independent business with more than 200 million euros in annual turnover. His highly visual fashion shows have been staged off-schedule in sprawling lavender fields, modernist villas, and even the Chateau Versailles.

0:47Recently, he has opened his first stores in New York and London, drawing the kind of crowds that are more often associated with pop stars. Meanwhile, there have been rumors that he was shortlisted to become the new creative director of Chanel, and he recently confirmed he is seeking an investor to help finance an ambitious global retail rollout. I don't have time to be snob. I can't. When you're independent, you have to make noise. I would love to be Aiden in my Provençal castle. I didn't have the opportunity to, you know, I need to be visible. I need to make fun things. And I think there is a part of me that I love that.

1:24At BOF Voices 2024, I spoke with Simon to learn how he has built a successful independent business in such a competitive environment, understand his plans for the future, and settle some of the rumors and speculation. Here's Simon Porte-Jacquemus on the BOF podcast.

1:46Hello. How are you? Good, how are you? Very good. Bonjour. Hello, everyone. This isn't your normal environment, Simon. You prefer the Mediterranean, you told me. Yeah, I do. What are your impressions of the English countryside? I feel home, you know, I grew up in a farm, so I was like, oh, we're back. We're back to the countryside. Okay, well, there is a lot to discuss. And you have been a very, very busy man this year. I want to start, you know, we've just heard this conversation with a few independent designers. We've heard this theme over the course of Voices. Yeah, it was nice. Yeah. If you're looking back now, how many years have you been in business now?

2:3115 years. 15 years. I started at 19 years old. Okay. What do you think are the core drivers of success for your brand? Why has it endured? Why has it lasted 15 years? Why is it 200 million years? I think when I started, my kind of naivety was helping me. And I only have one rule. Like when I start, I need to be visible. I start to do strike in front of Dior show, going into Avenue Montaigne and like showing my collection with my best friend. And this was my rules. The next show needs to be more visible. I need to have more visibility. People need to know my name. That was my only rules. So that was kind of a goal to build a brand that people would recognize from the start.

3:20But you didn't have the resources to do so. You know, I start with 1 ,000 and 1 ,500 euro. I went to a sewing machine ladies and I asked her to make a skirt for 100 euro. And she said yes. And I start the collection the next day. I designed my website. I published it on Facebook. And a week after, I got called by the press because it went viral. So your ability to go viral, it's kind of innate in you. My mother let me too much time in front of the TV, in front of Sex and the City at nine years old. and it was a culture pub. It was a TV show referencing only like TV ads. So I'm kind of obsessed with images.

4:01It's also the thing that made me want to do fashion. I wanted to build images and to create the sensation of this young boy looking at magazine. So tell me, like when you're coming up with, like we have some of these campaigns, by the way. I mean, I'm sure everybody has seen some of these. how do you come up with these ideas? I mean, these are CGI, right? Yeah, it was a year and something, and it went like 100 million views, and it became a big reference in the AI. I mean, to be... I came to the office and I said, oh, guys, can we have just a bag rolling in the street? And we received it, and half of the team was like, oh, it's a bit cheap, I don't know.

4:45And I watched, and I was like, oh, I love... I, everyone calling, even my, my grandmother was like, oh, I saw your little bag in the street. Like in our own company, they were like, oh wow, I didn't know you were doing bags in Paris. I was like, wow. And comments were like crazy, so it went viral. So you know when you said, you know when you said just now? I love. Yeah, I love, it's fun. Like, so why did you, how do you know? It's fun. I don't have time to be snob. I can't. when you're independent, you have to make noise. I would love to be hidden in my Provencal castle and being like, I can't.

5:25I didn't have the opportunity to, you know, I need to be visible, I need to make fun things. And I think there is a part of me that I love that. But I think my brand are, the value and the authenticity we share are not a luxury code, I think. It's more or less beauty. Well, talk to me about the codes because you and I had a little lunch in your new office in Paris earlier this year when we were first talking about this talk. And we talked about just a few of the running threads that come through everything that you do. What are the codes of the Jacquemus brand? When you want to explain it to someone.

6:04It's easy. When I started at 19 years old, I was feeling that there is so much boundaries between creative and the audience. What do you mean by that? It was too far. It was always so dark, so full of concepts, and my grandmother couldn't get them. You mean from the big luxury brand? Yes, it was too complex. So I was like, let's do something that everyone can understand, like the post guy, my grandmother, but as well having reference of more like niche thing, but people need to enter in my world. So I was imagining just collection with French name and a big smile. I think it was important to be so positive and the person I am as well.

6:49So I would say solar and open. The other thing that comes through, and we were seeing some of the images of your shows, is that there's this whole Mediterranean. You said you love the sea. So you really inject your own personal things that you just personally are drawn to. you somehow make it part of what you do. And you decided to stage these shows completely outside the fashion system, right? You know, most fashion brands, a lot of emerging fashion brands, they die to show on the Paris schedule or the London schedule or the New York schedule because it's a statement of having been approved or arrived in the system.

7:28You never did that. I think it's going to be one of the answers of today from my side. It's having fun. I think having fun is being creative, is going one step aside. and it's playing with the system. I was obsessed to have a 360 lavender feel as like a David Orkney painting. I was obsessed with one painting in particular, and I went there, and I went there with a car, and I passed days and days to find it. I didn't want a feel like this, I wanted a feel like this. So it was really precise. And why did you want a feel like this? Because I want everyone to be 360 inside the Jacques-Mouis world, like infinity.

8:06model coming up and down, but with an infinite immersion feeling. And are you seeing how that's going to look on social media in your head? Is that part of what helps to influence? When I was 13, 14 years old, I had a blog that was famous in France, and I was shooting myself in my garage, thinking I was a part of a D. Slimane campaign. And the next day I was shooting like my little cousin in oversized jacket, barefoot with flower heel that I was doing. And then I was thinking I was doing a Marc Jacobs campaign. I always have the image very accessible for me. So this is a continuity, I guess. OK.

8:52So on the one hand, when it comes to the fashion shows, you did your own thing. You chose your own way. You created a huge impact. When it came to retail, though, you decided to go straight into the heart of the system. So you opened in Avenue Montaigne, you're opening in Bond Street. You're going straight inside the domain of those luxury houses and you're saying, I'm here. Why is it important for you? People say, oh, it was strategic. No, it was just a dream. When I was 18 years old, I was coming in Paris with my best friend, going to all the shop and asking lookbooks, as we all did, I'm sure.

9:28like asking free lookbook and I was like oh that's the street I want to open my store and and you need more more cash more money to do it than just want it so it took times but it was important when I look back and the first year was strong so we were happy queuing we have the queue all time every day kind of so it was now it's becoming a problem to have the queue but back in the day was was cute yeah it was cool to have a queue there and now it's not cool no But when someone walks into a Jacquemus store, like the one you're opening in London on Bond Street on Friday or the one on Avenue Montaigne, how do you want it to feel different from some of those maybe more intimidating luxury store environments that are your neighbors?

10:16Yeah, I mean, I didn't think so much of that. I hope we are very solar and we give a big smile and we can showcase the Jacquemus lifestyle in it. But I don't know. What exactly you mean? Well, what I mean is, you know, I do my regular visits to Bond Street and Avenue Montana and Fifth Avenue and these places when I travel because I just want to kind of get the sense of what the customer experience is. And I go incognito and I walk into these stores and sometimes I just find them very unwelcoming. Yeah. You know, they have these very long queues outside them. Sometimes you have someone following you around everywhere in the store, which is so annoying because they're like, no, we want to help you.

11:05I'm like, no, I don't. If I want your help, I'll ask for your help. Often the experience in those stores, the way they're designed is designed to kind of intimidate. There's a security guard outside. There's a lot of things that make that experience. When I design the store and in partner with Omar, I want them to feel like a home. like a south of France, like home, like you can see the materiality, like the windows is just an old Provencal bank with like a piece of linen and a yellow bag. There in London, this is going to be more like a bed, an old bed that you have in south of France, a bit like a metal broken bed.

11:42So I hope people don't feel this way. Okay. On top of all of these creative things that you're leading the marketing the design selecting the fashion show locations and you know thinking about the store experience you are also the ceo of your business and you've been working on a brand and product elevation strategy you're you're leading you're yes you search for an investor which we'll talk about a bit later but how is it that you're balancing this sometimes is unfair. The balance is way more business than fashion, so you need to control that. What is true is that 3CP helped me to build this brand, like to have half every time, you know, very balanced.

12:31I'm interested in everything, you know. I wake up every morning looking at the sales, not because I love money, but because I want that my work, like, became something real and realistic and because I'm independent as well like you know to finance my third collection my second need to be shipped produce so it was one fabric you know so we arrived to that because I also think that to arrive to that point without anyone when we talk to banks and they're like oh you lie there was some like you have a rich uncle or something you know and it was always that in mind to you know to build and to be balanced so sometimes it's harder than yeah to do both right yeah the luxury slowdown or the you know the fashion slowdown that we've been talking about a lot at this voices how is it impacting your business what it was all this year it was um i think the the war we were um seeing on with the wholesale and the e-tailer so when one is starting to have sales, the other one were aligning themselves.

13:42So this was... Lots of discounting. This was super tough because even some partner, it was like, you know, and you can't control their price. This is illegal. It was something, you know, and you can see that being independent and not having the power of like a big group, it's, that's what's tougher this year. It's how I felt this way. So yes, on that part, we lost some point, but I'm happy that we were very strong on our retail, on our shop. We'll be right back with more on the BOF podcast.

14:22Talk about the role that this retail rollout, you know, you've been on kind of a mission this year. You already have the store in Paris, you've now opened New York. We have Paris, St. Tropez, New York, Courchevel, London. How does this fit into your strategy? Is that in part to take more control over your business? Yeah, it's a dream. It's not the same journey. It's not the same. It's a part also of my personal, like, since last January, you might see the show and the elevation of the product. And it was, you know, like two years of work that have been done. And so it's a part of all the process.

15:04So in order to do all of that, in order to build all of those stores, and I know you want to open more stores. I know that's part of your ambition. I don't want just like replicate and having all the good big city and having store there. When I say expand the retail, I want to have a lot of fun. Like this thing at Selfridges was incredible. like the Galerie Lafayette takeover like for the first time they let us all the windows that was 24 hour, 24 hour bags shop in Milan I want to have a lot of fun next year It seems to be the key running theme How much fun is it looking for an investor? Good one Well, it was not supposed to be public first I was not trying to make a post like oh I'm looking for someone you know so that was fun first to have like this sort of of drama but no it's it's good I'm looking for a minority so for me my my mood today it's like it's insane to be at this stage without anyone that's insane in a way now I'm 34 years old and I realize that that it's a bit crazy yeah so when you're sitting down with investors I think a conversation with an investor is always interesting right because part of it is they're trying to ask you all these questions about your business but at the same time it's a really great opportunity for you to learn about that investor because anytime the proverbial as we say in English the proverbial shit hits the fan or something goes wrong or there's challenges that's the person or the the people that you're going to be sitting in front of to navigate those challenges ahead.

16:55What are you looking for in an investor? Like what are the attributes? It's not just about money, it's just about people who can help you. So what are you looking for? A long-term partnership first, like it means like a beautiful value that I share. You know like if you come in the office and you came like everyone is really surprised by the spirit of the house so I want to have this value in front of me. So they have to share your values. Have you thought about a strategic partner like a big group versus a private equity partner and like what that is? Many options. Yeah but what do you think is better for you?

17:39It's a good question but what do you think you will? What do I think? Yeah. Oh, I wasn't expecting. No, but it's true. Listen, I think a lot of it depends on what your long-term ambition is. Like when you choose one of those strategic partners, it really is for the long term because, you know, you get an LVMH or a Caring or another big group to buy into your brand. And that's pretty much almost a lifelong decision because it's very hard to unwind those things. But also those groups can bring a lot of expertise, right? They can help you with retail. They can give you advice. On the other hand, you take money from private equity and they are like chomping down.

18:21They're on you every day saying, where are the sales? Where is the growth? They want to sell it. In three to five years, they want to triple or quadruple their investment. So you don't want the private equity. I mean, there is maybe other option that you didn't mention, but it could be like an angel coming from the sky. Okay. I never know in fashion. Well, the third option, you know, we saw recently the row, you know, they took a real, they did a real investment deal, right? Which was not private equity, not a big group, but people from the industry with expertise done at a very healthy valuation where they still maintain, I think, a majority stake like you want to do.

19:05But there's people with expertise. That's what you want to do. Is that what you said? I will do, yeah. Yeah. Okay. So at least we learned that today. That's good to know. Yeah, that is not negociable. We're talking about minoritaires. Okay. The other big speculation, which I'm sure you're tired of talking about, but I have to ask about it, is you're this very busy guy. You're running the business side, the creative side. You're driving to Lavender Fields looking for the right location because you care about everything. And some people think that you could be a candidate for the creative director of a big house like Chanel.

19:40Is that even possible with the time that you have? Yeah, that's a good question. No, that's a good question. My week are really busy. Even picking the furniture inside the store, you cannot be precise and you cannot make it all. Also, that's why I stopped beauty three years ago, to focus on my leather and to move all the factory to Italy in the best place. Like, there is so much to do. It's like, I feel my job is like infinity in a way. It's insane. But same question, who do you think will go to Chanel? Because I would love to hear from you. I actually will, I have some theories, but I actually, I'll be very honest, when I heard your name, I said, well, that's just not possible.

20:35Because I've met the guy. he is incessantly focused on his business, as he should be. He's built something of real value. Why would he distract himself from something he's building on his own to go work at something that someone else owns? That's what I thought. What are your reactions?

20:57Wait, I'm just connecting thing. Yeah, you're probably right. Maybe I'm too busy. Yeah.

21:08This is one of the funnest interviews I've ever done. No, but I listen to you, you know? No, I know. Well, okay. This is the part of the interview where we're almost out of time, where I get to ask a bit of your advice. One of the running themes of BOF Voices 2024 has been how tough it is to navigate this environment. The reason your name comes up in all those surveys where people want to hear from you is people are keen to understand what advice do you have to offer? You know, to a designer that's 19 years old and, you know, is obsessed with, maybe you were obsessed with watching television advertisements, like someone's obsessed watching something else.

21:47What's the advice you have to offer? Before I was getting the advice of no advice because I was always pissed off when I was going to someone like, oh, any advice for a PR because I want to work with Lucien Pagès. Oh no, you're too small. and I was like no I actually won't so I was always like taking my own decision and like and my balls you know yeah and like let's go I'm gonna I'm gonna so listen yourself I think listen yourself and and don't lie because people feel it don't force yourself to do social if you're not an expert if you are super comfortable do it because sometimes also people are they don't want to play and yeah and try to be visible i think it's it's really important and nowadays i heard like the interview before it was great to hear that yes we can be visible we can be there we that is super important why is that visibility so essential for a small brand because that's one thing that's like having fun is one thing but like that visibility breaking out getting attention when the big media the big fashion companies but you create your community what it's super strong and you see like we are one of the top 10 brand of the world most liked on Instagram for example with Porsche, Nike and a lot.

23:08Highest engagement. Yes because we we talked I talked to a community since like 15 years you know it's a it's a true relationship and and people want that what they want to feel like something is is authentic is like and makes sense So that is super important to be visible, but real. Not being visible for being visible. That won't last. But being real and tell your own story. I think people love to see the awakening, can we say, of a maison, of a new house in Paris. I think it's what they love to see. They don't care if I open a shop in New York. It's like literally, but they see that I'm opening my first shop in New York as an independent brand that they follow since 15 years.

23:54That difference. It's not like, okay, maybe in three stories, we'll be like, oh, ça va, we understand. Well, we'll find out on Friday. Yes. We'll see what happens. But even when we post something, Simon, about you on our Instagram, I can't explain it. The engagement is just off the charts. So it's not just your community. I think the broader fashion community, like the people who follow BOF on Instagram, people are very interested in what you do. And I want to congratulate you because what you've done in 15 years is pretty remarkable. Thank you so much. And very, very impressive. And I wish you the best of luck for that search for your investor.

24:34Thank you for that. And I'm really glad to hear you're not going to go work for Chanel. Thank you. Thank you for the company. Thank you.

24:48by Olivia Davies and Eric Bria.