Has Jacquemus given up on China?

What happened French fashion brand Jacquemus appears to be retreating from the Chinese market. The label’s last posts on Xiaohongshu and WeChat date back to November 28, 2024, while its WeChat Mini Program boutique now stands empty. Though, local shoppers can still buy the brand at multi-brand retailers SKP Select in Beijing and Chengdu and Galeries Lafayette Beijing. Furthermore, two key executives focusing on the APAC market are no longer with the company. Jacquemus did not respond to a request for comment. Despite strong brand awareness among young Chinese consumers, Jacquemus’ digital footprint in China has faded. The brand enjoys substantial user generated content (UGC) traction, with the hashtag ‘Jacquemus bag’ (#Jacquemus包) amassing over 10,000 posts on Xiaohongshu, and the hashtag ‘Jacquemus’ garnering 91 million views. The numbers are quite impressive considering that Sweden independent label Acne Studios’ hashtag has only garnered 71 million views on Xiaohongshu, while Isabel Marant hashtag merely 14.9 million views. The brand’s signature French Riviera aesthetic aligns with China’s growing fascination with the South of France: an effortless blend of Parisian chic and sun-drenched coastal romance. Yet, this appeal has not been enough to sustain its presence in the region. The Jing Take Jacquemus’ apparent withdrawal coincides with reports of financial strain. According to French media outlet Glitz, the brand had initially planned an ambitious retail expansion, targeting two new flagship stores annually. However, mounting financial pressures have forced reconsideration. Planned openings in Los Angeles and Miami were scrapped at the last minute, and the scheduled London and New York stores faced delays. The brand has also opted against establishing a U.S. warehouse to support its upcoming New York flagship, instead choosing a more cost-effective logistics hub on the outskirts of Paris. In 2023, Jacquemus reported sales of 270 million euros ($2.83 million), but former CEO Bastien Daguzan had set a 500 million euros ($5.23 million) revenue target—one that now seems increasingly out of reach. While the brand has excelled at viral marketing, including its buzzy Capri anniversary show attended by Jennie and Dua Lipa, digital buzz does not necessarily translate into sustained profitability. Launchmetrics data shows Jacquemus generated $401 million in media impact value (MIV) in 2023, up 60% YoY, with $123 million in Q1 2024 alone. However, MIV does not equate to direct revenue, and the cost of maintaining brand heat may be proving unsustainable. L’Oréal partnership: A beauty lifeline for China? Amid these challenges, this year, Jacquemus has secured a minority investment from beauty conglomerate L’Oréal to launch its first beauty line. While the label has yet to comment on its Chinese market retreat, this pivot to beauty could signal an alternative path for its brand presence in the region. Back in 2021, Jacquemus already planned to partner with Puig on a beauty venture, the latter owned 10% of Jacquemus’ shares but the plan was aborted and the brand repurchased the stake in the following year. China remains the world’s second-largest beauty market, and luxury beauty continues to thrive even amid broader economic headwinds. If Jacquemus’ Provençal aesthetic can be effectively translated into beauty — think sun-kissed fragrances, minimalist packaging, and influencer-led campaigns — the brand might regain its foothold in China through a different category. Yet, as the likes of Tom Ford Beauty and Valentino Beauty have shown, even beauty brands require a well-executed China strategy. Hype vs. profitability: Lessons for luxury brands in China Whether Jacquemus is merely restructuring its market approach or genuinely pulling out of China remains unclear. What is evident, however, is that luxury brands can no longer rely solely on hype and aesthetics to sustain a lasting presence in China. Without a robust localization strategy, even the most desirable labels risk losing their grip on this crucial market. The Jing Take reports on a piece of the leading news and presents our editorial team’s analysis of the key implications for the luxury industry. In the recurring column, we analyze everything from product drops and mergers to heated debate sprouting on Chinese social media.

Has Jacquemus given up on China?

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Published February 26, 2025

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Has Jacquemus given up on China?