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Puig Aquires A Majority Stake In Byredo

Fragrance lovers will know about Byredo, the cult unisex perfume and cosmetics brand that was established in Stockholm in 2006. The brand exudes an expression of a contemporary luxury brand with an ambition to translate and elicit memories and emotions through via its products. Byredo is reinventing the formulaic approach to business, where creativity and instinct are the overriding forces for the brands decisions. Manifested through a variety of objects, using the highest quality materials available and intelligent design details, the Byredo universe, that started with a fragrance, has since evolved into a full range of beauty, home, leather goods and accessories sold in 55 countries in the world’s leading retail points.

On May 31st 2022, Puig, the fashion and beauty family-owned company, announced that it has acquired a majority stake in Byredo. Founder of Byredo, Ben Gorham and 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.

The acquisition of Byredo will reinforce Puig’s high-end positioning with a brand that has redefined luxury and owns a true hearted direct-to-consumer approach. Puig will continue supporting the development of the brand, boosting and nurturing its current positioning.

“We are thrilled to welcome Byredo, as it perfectly reinforces Puig purpose of empowering people’s self- expression, and a strong and conscious commitment in the ESG agenda. Puig will contribute our expertise and resources to the development of this unique brand, which represents modern luxury with a strong consumer connection,” declared Marc Puig, Puig Chairman and CEO. “This new acquisition marks a new key milestone in Puig’s ambition to develop a business with a strong portfolio of purpose-driven brands.”

“We are very proud and enthusiastic to partner with a such high caliber founder as Ben Gorham to join our brands ecosystem. Byredo has built a culture and a tribe that people want to belong with”, added Manuel Puig, Puig Vice Chairman and Chief Sustainable Officer.

Ben Gorham also spoke about the acquisition of his brand by Puig, “Since 2006 I have been fortunate to work with people who believed in a brand that could redefine a luxury and beauty culture, one that was aspirational yet inclusive. The brand has experienced steady and significant growth over the last 15 years and each phase has presented new challenges and opportunities. I really believe that Puig’s experience with founder-led brands in beauty and fashion will help us realize our full potential in multiple categories. Puig has demonstrated a competitive and disruptive approach to building business – something that truly resonates with the culture that is Byredo.”

The partnership with Byredo will reinforce Puig’s high-end luxury positioning with a brand beyond beauty that has redefined luxury and owns a true hearted direct-to-consumer approach.

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