In a recent development that is set to shake up the fragrance industry, American fund Advent International has acquired a majority stake in two renowned French niche perfume brands, Parfums de Marly and Initio Parfums Privés. The exact financial details of the deal have not been disclosed, but it is expected to provide a substantial boost to both brands.

Parfums de Marly, which was founded by Julien Sprecher in 2009, is part of the esteemed Sprecher Berrier Group of Companies. The group also includes the luxury fragrance brand Initio Parfums Privés, which was launched in 2015. While Parfums de Marly has experienced remarkable success, with sales reaching a staggering €262 million in 2022 and a remarkable 51% growth rate, no specific sales figures have been released for Initio. However, Initio has already established a strong presence in approximately fifty countries, including the United States, and is known for its innovative and gender-neutral fragrances.

The Sprecher Berrier Group, which is headquartered in Dubai, United Arab Emirates, has ambitious plans for the future. They anticipate that their retail sales will reach a remarkable $500 million (approximately €450 million) by the end of 2023. In light of this acquisition, Julien Sprecher, the founder of Parfums de Marly and Initio, will continue to serve as the group’s executive chairman and creative director. He will also retain a significant minority stake in the company, ensuring his continued involvement and influence in the brands’ operations.

Advent International, the American fund behind this acquisition, is no stranger to the beauty sector. They have previously made strategic investments in renowned German perfumeries Douglas, which owns Nocibé. In 2021, the fund also established Orveon, a structure housing prominent makeup and skincare brands such as Laura Mercier, Buxom, and BareMinerals, which were acquired from the Shiseido group. With their majority ownership in Parfums de Marly and Initio, Advent International aims to propel these French perfume brands towards international expansion and solidify their position in the omnichannel retail landscape.

This acquisition brings with it a world of new opportunities and resources for Parfums de Marly and Initio Parfums Privés. With Advent International’s financial backing and industry expertise, these French perfume brands are well-positioned to make significant strides in the global fragrance market. Advent’s successful track record and extensive network are expected to accelerate the brands’ growth and provide them with the necessary resources to reach a wider consumer base worldwide.

Overall, this recent development in the fragrance industry signals a promising future for Parfums de Marly and Initio Parfums Privés. With the backing of Advent International, they are now equipped to take on the challenges of expanding their businesses on an international scale. Fragrance enthusiasts can expect to see exciting innovations and fresh creations emerge from these two esteemed brands in the coming years.

Useful links:
– For more information on Parfums de Marly, visit their official website here.
– To explore the world of Initio Parfums Privés, check out their official website here.