Following the acquisition last year of the brands Penhaligon’s and L’Artisan Parfumeur, Puig confirms its interest in niche perfumery with its entry as a new shareholder in Eric Buterbaugh Florals (EB Florals).
EB Florals was founded by Eric Buterbaugh, world-renowned floral designer, and Fabrice Croisé, in 2015. Together, in collaboration with the world’s leading perfumers, they have created 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. To date, the line has been available only at the brand’s flagship boutique in West Hollywood and online. In early May 2016, EB Florals products will be available for purchase at Saks Fifth Avenue in Beverly Hills, San Francisco, Las Vegas, Houston and Toronto, and at Bergdorf Goodman, New York.
“Puig has become a minority shareholder with the objective to support the growth of EB Florals through brand building and deployment,” explains the group. The agreement is structured to accommodate the growth of the company’s investment over the next several years.
“We have an eye for spotting and developing creative and innovative perfumery. 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 Parfumer, acquired last year,” says Marc Puig, Puig Chairman and CEO.
This agreement is in line with the Puig strategy to focus on the selective perfumery market in order to achieve its business goal of capturing a 12 per cent global market share by 2020. In 2015, Puig achieved 1,645 million in revenues with its combination of owned brands (Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Penhaligon’s and L’Artisan Parfumeur…), licenses (Prada, Valentino and Comme des Garçons…), and celebrity fragrances.