NEW YORK – Juliette Has a Gun has raised a latest round of funding, with Cathay Capital private equity group raising its stake within the area of interest French fragrance brand and Weinberg Capital Partners taking a minority share.

Specific terms of the deal weren’t disclosed, however the news, which broke Tuesday, comes two years after Cathay Capital took an initial minority stake in Juliette Has a Gun.

The investment comes at a time when area of interest fragrances are a major growth driver of the burgeoning perfume market.

Since Cathay Capital’s investment, Juliette Has a Gun has been consolidating its footprint within the U.S., China and the Middle East, and continues developing in Latin America and Southeast Asia.

Juliette Has a Gun was founded in 2005 by Romano Ricci, a great-grandson of Nina Ricci. On the outset, his goal was to create “something closer to women’s day by day lives.”

“Juliette is a women’s fragile side, and the gun represents power — a passport to liberty,” said Ricci in a 2007 WWD interview. He learned his trade from his grandfather, Robert Ricci.

The younger Ricci said he wanted to provide a contemporary edge to romanticism. His goal has been to revive fragrances as emblems of fashion and originality. 

Over the past 4 years, Juliette Has a Gun’s sales have grown on average by 40 percent annually, tripling turnover over the past two years to generate 120 million euros in retail sales in 2022.

The brand is sold greater than 50 countries and about 2,500 sales points, including Sephora within the U.S. and Ushopal in China.

“Juliette Has a Gun gained significant audience over the past years, especially amongst young women who at the moment are in search of more originality and an actual quality experience to mark their singularity,” said Romano Ricci, in an announcement, adding he’s convinced Cathay and Weinberg’s “combined expertise will take the brand to the following stage.”

“We’ve got been very impressed with the transformation of Juliette Has a Gun over the past three years and the implication of its expert teams and management, which have led them to an actual success story,” said Edouard Moinet, a partner at Cathay Capital.

“We’re proud to stay a part of their cross-border growth journey and imagine the brand still has significant runway, which is why we’re investing much more this time alongside Weinberg Capital Partners to speed up their development even further,” he continued.

“We were seduced by the brand’s disruptive identity, which breaks the codes of the industry, in addition to its ability to draw younger generations,” said Philippe Klocanas, a partner at Weinberg Capital Partners.

“Its traction in markets as competitive as China and the US best illustrates its potential,” he explained.

Ohana & Co. investment bank and Bredin Prat law firm advised Juliette Has a Gun, while Hogan Lovells and Allen & Overy advised Weinberg Capital Partners.