THE WHAT? David Wertheimer, the son of one of Chanel’s billionaire owners, has launched a private equity firm named 1686 Partners, raising over US$110 million to invest in fashion, cosmetics, and lifestyle products.
THE DETAILS Wertheimer, 37, started Luxembourg-based 1686 Partners last year, focusing on innovative companies in jewelry, gourmet food, ready-to-wear, and fragrances. The firm emphasizes sustainable materials, eco-responsible distribution channels, responsible production, traceability, and access to raw materials.
Key hires include Andreas Ernst, formerly of Skopos Impact Fund, as partner; Jonathan Farrugia as PE investment director; Julien Erbrech as operations manager; and Jeremie Lotti as head of partnership and strategy. The team will be based in Europe and Asia, with more details to be disclosed later this year.
THE WHY? 1686 Partners aims to leverage Wertheimer’s heritage and industry expertise to back companies that align with the values of sustainability and innovation, echoing the legacy of Chanel while venturing into new market segments.
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
