The Spanish Conglomerate Adds the Swedish Fragrance Brand to Its Growing Luxury Roster
Puig has acquired a majority stake in Byredo, the Swedish luxury fragrance and lifestyle brand known for its high-end, gender-neutral scents and crisply minimalist branding.
The deal, which is reported to have been struck for €1 billion (though details remain unclear), comes after months of speculation that Byredo had been seeking a buyer and exploring numerous potential deals . The acquisition sees Puig add the brand to a luxury roster that includes Jean Paul Gaultier, Paco Rabanne, Dries Van Noten, and more, and comes during a time of rapid growth in fragrance sales.
Byredo was founded in Stockholm in 2006 by Ben Gorham. Primarily known for its considered, gender-neutral perfumes, the brand also extends its unique and thoughtfully minimalist approach across makeup, bodycare, accessories, leather goods and more, with its Byproduct offshoot in particular seeing the brand expand into the lifestyle market.
Puig has been making a recent push to help its fashion brands, like Comme des Garçon and Christian Loubuoutin, move into the fragrance field, which has seen promising growth recently. The acquisition of Byredo seems to form part of the same push. However, it’s still unclear what changes, if any, the future holds for Byredo following the change in ownership.
