Mazarine founder buys out PE backers, raises stake to 86%

Paul-Emmanuel Reiffers has raised his ownership of Mazarine to 86 percent, ending 15 years of private equity backing as the French creative consulting group pursues a plan to double revenue within the next five years.

Completed in September, the transaction gives Mazarine’s founder and chief executive officer greater control as he seeks to build the business for the long term. LBO France, Mirabaud and FG Bros exited through the deal, having helped Reiffers regain a majority stake of 54 percent in 2022.

Jacques Veyrat’s Impala holding company has become a minority investor with a 9 percent stake. Mazarine’s managing directors collectively own the remaining 5 percent.

Financial terms were not disclosed. Company representatives put Mazarine’s current annual revenue at around 300 million euros. The group employs around 500 people worldwide across luxury communications, creative services, events, media, art and cultural production.

A longer-term approach

Reiffers said consolidating ownership reflected his desire for more control over strategy and a longer investment horizon.

"I’m not working to sell the company. I don’t want to have a financial company. I want to have a creative company, and I want to build a really beautiful brand", said Reiffers. "I want to build the company for the next 30 years and more, because my sons are now working with me."

His sons, Boniface and Stanislas, have joined the company in Paris and New York, respectively.

International expansion is central to Reiffers’ growth ambitions. France currently accounts for around 75 percent of Mazarine’s business, he said, with the rest coming from markets including the U.S., China and the Middle East.

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U.S. growth and a planned Milan office

The U.S. is a priority after Mazarine’s revenue there tripled over the past three years to around $70 million, according to Reiffers. Its clients in the market include Tiffany & Co., Nike and Apple.

"When you arrive in the U.S. as a brand from France, you have the savoir faire français of creative production, and they appreciate that a lot", he said. "The market is really big and really dynamic, and we have huge potential in U.S."

Mazarine also plans to open an office in Milan in 2027. The group already works with Gucci and Loro Piana and has an office in Venice, where it produces art and cultural projects, including work connected to the Venice Biennale.

Reiffers is considering an acquisition in China as a possible path to expansion despite difficult market conditions. Regional conflict, meanwhile, has put some of the group’s Middle East expansion activity on hold.

Diversifying beyond traditional luxury

Reiffers views the luxury slowdown as a chance to diversify, reconsider strategy and invest in talent. He described the period as a pause rather than a structural downturn, citing geopolitical uncertainty and the time needed for changes in creative leadership at major fashion houses to take hold.

"For my company, the crisis is an opportunity to diversify", he said.

Mazarine expanded its art and exhibition production business by acquiring Arter two years ago. In June, it bought London-based luxury lifestyle public relations firm Bacchus to strengthen access to ultra-high-net-worth individuals for future projects and events. The group has also broadened its work with clients outside traditional luxury.

Reiffers said Mazarine has a strong business pipeline over the next two years. Growing interest among luxury brands in heritage exhibitions that can travel to several cultural capitals offers another potential source of growth, he added.

The business remains organized around three areas: events and experiential production; creative and communications services; and influence, which includes media, public relations and cultural initiatives. Mazarine also owns Numéro magazine and has developed Mazarine Intelligence and its own generative AI to create ultra-personalized VIC experiences for luxury clients.

"We are a fully integrated group. It’s not only about business; it’s about value", he said. "Because we are really optimists about the future too. We have a lot of things to do worldwide, and we have a lot of potential."

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