The Independents, the luxury marketing and communications conglomerate, has acquired Phantasm Group, a Paris-based film production company known for its work on Emilia Pérez and Paper Tiger. The deal underscores the escalating demand for high-production-value film content across the fashion and luxury sectors.
The transaction’s financial terms were not disclosed, but the acquisition pattern suggests The Independents is building toward an eventual IPO or strategic sale. Each new capability — PR, events, digital, now film — increases the group’s valuation multiple.
For the fashion houses that work with The Independents, the Phantasm acquisition means their campaigns can now access feature-film directors, cinematographers, and post-production facilities without leaving the agency ecosystem. The line between fashion content and cinema grows thinner by the quarter.
The deal is the latest in a string of acquisitions by The Independents, which has been aggressively consolidating the luxury agency space. Earlier in 2026, it acquired MA+ Group, adding management consulting and creative direction capabilities.
Co-founder and CEO Isabelle Chouvet framed the acquisition as a response to client demand. Brands are no longer satisfied with thirty-second commercials or static campaign imagery; they want narrative features, documentary shorts, and cinematic lookbooks that function as entertainment.
