Founded in 1904, Caron one of the oldest French perfume houses is about to change hands. Alès Groupe, owner of the company since 1998 has announced having entered into exclusive negotiations with Luxembourg-based Cattleya Finance S.A., the private-investment holding company of Benjamin and Ariane de Rothschild, in order to sale the subsidiary.
Caron is notably at the origin of iconic perfumes such as N’Aimez que Moi, Blond Tobacco, Black Narcissus or the bestseller men’s fragrance Pour un Homme. Caron is also famous for its loose powders, among the finest in the world, made through a unique artisan process, in the workshops of the house.
Alès Group intends to refocus on its core business: skincare products (Lierac and Jowaé) and hair (Phyto, Kydra, Secret Professionnel, Subtil). Although Caron Fragrances (8.1 million euros in sales in 2017) is not a big piece within the Group (3.2% of their global revenues), the sale of this brand has a significant symbolic scope, given the turbulences that the Alès Groupe is going through currently, including a drop of its turnover and a governance criticized by minority shareholder CIAM Hedge Fund.
The transaction is expected to be concluded by the end of the year.