BrazilLuxury consultancy MAD buys stake in French boutique 1889
French luxury consulting firm MAD has acquired a majority stake in 1889, a Paris-based agency that specialises in luxury expertise in the high-end retail and travel sectors.
Commenting on the collaboration, Jean Révis, MAD co-founder said, “We are extremely proud to welcome 1889, a firm with a strong track record at several well-known luxury players. Their value proposition is highly complementary to our business.”
1889’s offering comprises two propositions. The first is geared at the luxury sector, and focuses on helping clients design, create and execute unique customer experiences that cater the demands of high-end and high net worth customers, while the second service serves travel agencies active in the luxury segment.
Aurélie de Royer and Thomas Mesmin, who co-founded the company in 2016, are delighted with the joining of forces. “We had known for a long time that our companies have strong complementary skills and commercial synergies,” said Mesmin, with De Royer adding, “beyond the purely business aspect, we also align closely to the culture and human values of MAD and its team.”
The duo teamed up in 2016 after previously gaining a number of years of experience in the hospitality and luxury sectors. De Royer worked some seven years for French cooking company L'atelier des Chefs, while Mesmin held luxury and consumer goods sector roles at private equity group Syz Asset Management and European equity broker Kepler Cheuvreux.
As part of the integration, MAD will welcome co-founders De Royer and Mesmin and the firm’s 8-strong staff, lifting its headcount to around 50. MAD will add clients such as Baccarat, Boucheron, Berluti and Tesla to its roster, which already includes the likes of iconic French-origin brands Boucheron, Gucci, Cartier, Fendi, Lancel, Jean Paul Gaultier and Le Bon Marché. In addition to luxury groups, the firm also works for independent brands, private equity funds and start-ups.
The move comes at a time of a growing yet rapidly evolving luxury market. According to Bain & Company, the global personal luxury goods sector is worth around €276 billion, more than double the value at the turn of the century. However, a a number of mega-trends including post-ownership (a shift in consumption favouring access over ownership), sustainability (circular fashion will be the new mantra), and digitisation (which will in particular impact the way shopping experiences are delivered) are reshaping industry across its entire value chain.
MAD was founded a decade ago by Jean Révis, formerly the founding partner of Masai (a predecessor of Ayming) and Delphine Vitry, formerly a manager at Louis Vuitton. Alongside consulting and delivery, MAD has other arms dedicated to executive search and learning & development.
