The Wertheimer family office: Mousse Partners

The Wertheimer family: luxury business owners & investors

The Wertheimer family is led by the brothers Gérard and Alain Wertheimer. Together they control Chanel, one of the world’s most iconic luxury brands. Gérard is based in Switzerland and oversees the watch division, while Alain is chairman at Chanel. Their connection with Chanel goes back to their grandfather, Pierre Wertheimer, who co-founded the brand together with Gabrielle “Coco” Chanel.

Gabrielle Chanel wanted to expand her perfume, `Chanel No. 5`, in the US market and therefore approached Pierre Wertheimer. Together they created a joint venture in which Wertheimer provided capital and Chanel contributed her brand name. Due to their agreement, Wertheimer got 70% ownership, Chanel 10%, and a third partner 20%. Today, Chanel is still privately owned and is expected to generate sales of $19.7 billion by 2023. This success forms the core of the brothers’ wealth, which will exceed $41 billion by October 2024.

The discreet approach of Mousse Partners

The Wertheimer family office, Mousse Partners, maintains high secrecy about its operations. Mousse Partners is a key division of Mousse Investments Limited, a private investment firm founded in 1979. With offices in New York City, Beijing, Hong Kong, and the Cayman Islands, the firm invests in private equity, equities, loans, and real estate. Mousse Partners is estimated to have between $90 billion and $100 billion in assets under management. A significant share is tied to the family business, Chanel.

In addition to Chanel, Mousse Partners invests in a variety of different companies. These investments include the Icelandic fashion brand 66° North, the startup Everplans, the e-commerce tool Storr, the biotech firm Evolved by Nature, and healthcare provider Thirty Madison. The family office itself is run by the Wertheimer brothers’ half-brother, Charles Heilbronn, underlining the Wertheimer family’s direct involvement in the management of their wealth.

Picture Source: Kin Shing Lai via Unsplash