L’Oréal has acquired a minority stake in independent French fashion label Jacquemus, forging an “exclusive beauty partnership” with it, the French cosmetics giant announced on Friday.

Jacquemus, a high-end label founded in 2009 by designer Simon Porte Jacquemus, is especially popular with fashionistas and celebrities, and its runway shows are always highly anticipated.

“Jacquemus will now write its beauty story with L’Oréal Luxe,” said L’Oréal in a press release.

“With its unique brand identity…, Jacquemus will perfectly complement L’Oréal Luxe’s portfolio of iconic brands, and strengthen our global leadership,” said Cyril Chapuis, CEO of L’Oréal Luxe, quoted in the press release.

“Fifteen years ago, I started dreaming and setting up Jacquemus, with perfume and beauty always featuring in my vision of the brand,” said Porte Jacquemus, adding he is “proud to pursue this dream with the world leader in beauty.”

More details about this partnership are expected from L’Oréal’s conference with analysts, scheduled for Friday morning, the day after the publication of the group’s results.