The Move by Byredo CEO Nicolas Cordier Completes the Process of Integrating Byredo Into its Parent Company
Byredo’s CEO, Nicolas Cordier, has announced that he has transferred the brand’s management to its parent company, Puig. In a LinkedIn post dated Sunday, Cordier, who has served as the global CEO of Byredo since 2020, expressed, “Mission accomplished!”
This development comes amid the rapidly evolving and fiercely competitive beauty industry, witnessing substantial changes in the leadership structures of various companies since the beginning of the new year. Notable companies such as Rhode, Merit Beauty, L’Occitane Group, Avon Products Inc., Biologique Recherche, L:a Bruket, Susanne Kaufmann, Fresh, and Orveon have all appointed new CEOs.
According to Cordier’s LinkedIn post, he assumed the role at Byredo with the objective of scaling up, selling, integrating, and ultimately handing over the company to the next shareholder.
Puig acquired a majority stake in Byredo in May 2022. Founded in 2006 by Ben Gorham, Byredo has since gained a reputation as a leader of luxury beauty, especially over the past few years.
During Cordier’s tenure between 2020 and 2023, he successfully led Byredo to triple its global net revenues and achieve double-digit earnings before interest, taxes, depreciation, and amortization, as outlined in his post. Cordier played a key role in growing Byredo’s e-commerce sales tenfold and establishing 50 profitable freestanding boutiques. Under his leadership, the Byredo team expanded to 600 people.
After facilitating the merger and acquisition process, overseen by Manzanita Capital and Goldman Sachs, Byredo was acquired by Puig, reportedly valued at over 1 billion euros.
In the course of integrating Byredo into Puig in the previous year, Cordier transferred control of global travel retail, Spain, Italy, Saudi Arabia, the United Arab Emirates, and distributor markets to Puig. Additionally, he assisted Puig in establishing group subsidiaries in Japan and Korea.
During his tenure, Byredo also ventured into new product categories, including makeup and jewelry..
“After three years and a half, having completed my mission, I hand over the management of Byredo to Puig,” Cordier stated. “Thank you Manzanita, Ben Gorham, Puig, and my incredible team for what has been an intense and exciting ride!”
