PUIG ACQUIRES A MAJORITY STAKE IN BYREDO.
Puig, the fashion and beauty family-owned company, has acquired a majority stake in Byredo, the Swedish luxury brand founded in Stockholm in 2006. Founder 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. The entry of a brand as compelling and authentic as Byredo, with a solid product portfolio, a strong ESG commitment and a new luxury positioning, will enhance Puig as House of Love Brands.
Puig’s brand portfolio is structured in three divisions: Beauty and Fashion, with the owned brands Carolina Herrera, Nina Ricci, Paco Rabanne, Jean Paul Gaultier, Dries Van Noten, Penhaligon’s and L’Artisan Parfumeur; the licenses of Christian Louboutin and Comme des Garçons perfumes; and Lifestyle fragrances, among them Adolfo Dominguez, Antonio Banderas and Benetton. The Charlotte Tilbury division, which includes the luxury makeup brand. And the Derma division, with Apivita, Uriage and the joint venture in Isdin. In 2021, Puig recorded sales of €2,585M. The group sells premium and luxury products in 150 countries and operates 27 subsidiaries.
“We are thrilled to welcome Byredo, as it perfectly reinforces Puig purpose of empowering people’s selfexpression, 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”, declared Manuel Puig, Puig Vice Chairman and Chief Sustainability Officer.
“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.” – Ben Gorham, Founder and Chief Creative Officer.
“Manzanita is a family run business, and Byredo has been part of our family for almost 10 years. It has been an incredible journey and we are really proud that this next milestone for Byredo is being created together with another privately owned family business who share our passion for building exceptional brands.” William Fisher, CEO Manzanita Capital.
Manzanita is a family-owned business based in London, founded by William Fisher in 2002. Manzanita invests in premium and luxury beauty brands, supporting visionary entrepreneurs to scale their businesses while preserving their unique creative integrity. Its brands include Diptyque, Malin+Goetz, Space NK, and Susanne Kaufmann. It has also made several early-stage investments, including Cult Beauty, Glossier, and A-Frame. In recent years, Manzanita has successfully sold majority stakes in Eve Lom, Kevyn Aucoin and Lipstick Queen to enable these brands to accelerate their growth further through new strategic partnerships.