After days of speculations and rumours mentioning a possible take-over by L’Oréal, Byredo has a new owner! Spanish fashion and beauty group Puig announced today it has acquired a majority stake in the Swedish luxury brand founded in Stockholm in 2006. Founder Ben Gorham and equity fund Manzanita Capital will both remain as shareholders. Ben Gorham will continue his creative leadership (Chief Creative Officer) and Manzanita will remain committed to the long-term growth and vision of Byredo.
Puig said the operation will reinforce their high-end positioning with a brand that has redefined luxury and owns a true hearted direct-to-consumer approach.
“This new acquisition marks a new key milestone in Puig’s ambition to develop a business with a strong portfolio of purpose-driven brands,” said Marc Puig, the group’s Chairman and CEO. Puig own portfolio of brands already includes Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Penhaligon’s and L’Artisan Parfumeur.
Byredo made its debuts with fragrances but the brand’s offering has since evolved into a full range of beauty, home, leather goods and accessories sold in 55 countries.