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“We see this partnership with EB Florals as an opportunity to expand our presence in the exclusive high-end fragrance category“ |
Marc Puig Chairman & CEO Puig |
Spanish fashion-to-beauty group Puig announced today that it has become a minority shareholder in Eric Buterbaugh Florals (EB Florals).
EB Florals was founded by Eric Buterbaugh, a world-renowned floral designer, and Fabrice Croisé, in 2015. Together, in collaboration with leading perfumers, they created what Puig describes as an “ultra-exclusive” line of floral fragrances: “a lavish collection of eight unisex scents and six candles conceived as a homage to Eric Buterbaugh’s floral artistry”.
Previously the line has only been available at the brand’s flagship boutique in West Hollywood and online. From this month, however, EB Florals products are being sold at Saks Fifth Avenue in Beverly Hills, San Francisco, Las Vegas, Houston and Toronto, and at Bergdorf Goodman, New York.
Puig said it has invested in the company to support the growth of EB Florals “through brand building and deployment”. The agreement is structured to accommodate the growth of its investment over the next several years, Puig added.
“Puig will bring to EB Florals its market know-how, as one of the key players in the fragrance business worldwide, as well as its expertise in and respect for the development of avant-garde concepts and innovative fragrances,” said Croisé.
“We have an eye for spotting and developing creative and innovative perfumery,” said Puig Chairman & CEO Marc Puig. “We see this partnership with EB Florals as an opportunity to expand our presence in the exclusive high-end fragrance category, where we already operate through our owned niche brands, Penhaligon’s and L’Artisan Parfumeur, acquired last year.”
The agreement is in line with Puig’s strategy to focus on the selective perfumery market in order to achieve its business goal of capturing a 12% global market share by 2020.
