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.