Legendary Child Stars Land Billion Dollar Deal
Thanks to the success of Full House, the Olsen Twins became pop culture icons, eventually headlining their own insanely successful brand. We haven’t heard as much from Mary-Kate and Ashley Olsen because they have been busy creating entirely new brands, and one of them has just recently gained a major new investor. The Olsen Twins founded a fashion label named The Row, and thanks to some influential new investors, their company is now valued at a billion dollars.
The Row Is Now A Billion Dollar Company
If you didn’t know, the Olsen Twins have been focusing on fashion for a long time, founding The Row back in 2006. They cater to luxury clients, and while the brand doesn’t have huge name-brand recognition (at least, not yet), it has been steadily growing in prominence for nearly two decades. The Row regularly exhibits hot new items during Paris fashion weeks, and this eventually gained some big-league attention: the fashion label’s newest investors are the family behind Chanel and L’Oreal’s billionaire heiress, Bettencourt Meyers.
Big Names Are Investing
While Chanel and L’Oreal are the biggest names involved (each of them bought a minority stake in The Row), Imaginary Ventures is also investing in the Olsen Twins’ fashion venture. The twins, of course, remain the majority stakeholders in their company, but all of the recent investments have boosted The Row’s valuation in a big way. Now, the label is worth about a billion dollars, making the young twins at the center of it wealthier than their acting careers ever did.
Master At Marketing
The idea that those cute little girls from Full House are now billionaires is surprising to many, but it really shouldn’t be. The Olsen Twins have always been great at marketing themselves, which is how they parlayed their sitcom fame into over a dozen movies that captivated their young fandom. Now, their marketing savvy has extended to their fashion label.
Earlier this year, The Row made headlines (and raised eyebrows) by asking guests to put away their phones during the fashion show, keeping people from immediately posting on social media…a move that instantly made their show seem mysterious and exclusive to fashionistas around the world.
Will New Investors Approve Of The Olsen Twin Tactics?
Many are curious whether or not the Olsen Twins will repeat that cute marketing stunt when they unveil their spring and summer collections in Paris on September 25. The Row’s major new investors might dig the approach, one that helped to organically build more hype than the Olsens’ bigger-name competitors. Of course, the new investors might also want a little more razzle-dazzle for their money, which could easily influence how these superstar twins approach future shows.
Bigger Than Their Famous Sister?
Once upon a time, it was a common narrative that the Olsen Twins were overshadowed by their sister Elizabeth, the woman who went on to portray the Scarlet Witch in the Marvel Cinematic Universe. After all, the twins had largely fallen off the pop culture radar, and their once-unknown sister was suddenly headlining superhero films that earned over a billion dollars per movie at their height.
Now, though, the Olsen Twins have a billion-dollar company and Elizabeth Olsen was killed off in one of the lesser Marvel movies, so it looks like these Full House stars really got the last laugh.
Source: Bloomberg
