Puig has acquired a majority stake in Swedish luxury brand Byredo. Founder Ben Gorham and Manzanita Capital will both remain stakeholders in the company, with Gorham continuing in his role as Chief Creative Officer.
The deal strengthens Puig’s premium fragrance portfolio and high-end positioning as a ‘House of Love Brands’. The family-owned fragrance and beauty company said it will support Byredo’s future development and reinforce its current position in the luxury niche fragrance market.
Byredo has taken a strong direct-to-consumer approach since its founding in 2006. Led by Gorham with support from Manzanita Capital, the brand has grown into a well-respected contemporary luxury lifestyle brand.
Byredo has a strong ESG ethos. Its portfolio started with a fragrance and developed into a full range of beauty, home, leather goods and accessories. It is currently available in 55 countries globally.
Commenting on the acquisition, Puig Chairman and CEO Marc Puig said: “We are thrilled to welcome Byredo, as it perfectly reinforces Puig’s purpose of empowering people’s self- expression, and a strong and conscious commitment in the ESG agenda. Puig will contribute our expertise and resources to the development of this unique brand, which represents modern luxury with a strong consumer connection. This new acquisition marks a new key milestone in Puig’s ambition to develop a business with a strong portfolio of purpose-driven brands.”
Puig Vice Chairman and Chief Sustainable Officer Manuel Puig added, “We are very proud and enthusiastic to have such a high calibre founder as Ben Gorham join our brands ecosystem. Byredo has built a culture and a tribe that people want to belong to.”
“Since 2006 I have been fortunate to work with people who believed in a brand that could redefine a luxury and beauty culture, one that was aspirational yet inclusive,” commented Ben Gorham. “The brand has experienced steady and significant growth over the last 15 years and each phase has presented new challenges and opportunities.
Gorham added, “I really believe that Puig’s experience with founder-led brands in beauty and fashion will help us realise our full potential in multiple categories. Puig has demonstrated a competitive and disruptive approach to building businesses — something that truly resonates with the culture that is Byredo.”
Manzanita Capital is a London-based investment company with a focus on premium and luxury beauty brands. Its brands include Diptyque, Malin+Goetz, Space NK, Susanne Kaufmann and Byredo.
Manzanita Capital CEO William Fisher commented, “Manzanita is a family run business, and Byredo has been part of our family for almost ten years. It has been an incredible journey and we are proud that this next milestone for Byredo is being created together with another privately-owned family business who share our passion for building exceptional brands.”
