Initio Tag

PARIS — Two hot area of interest fragrance brands — Parfums de Marly and Initio Parfums Privés — have been snapped up by Advent International, which took a majority stake within the labels. Financial terms of the transaction weren't disclosed, but industry sources estimate that the deal was valued at greater than $700 million. Parfums de Marly and Initio have been on steep growth trajectories, together registering retail sales of $366 million last yr, and the brand new financial backing is supposed to assist bolster that. “The group has grown rapidly to turn out to be a number one area of interest perfumery house within the attractive area of interest luxury fragrance segment, which represents the fastest-growth area throughout the siable [approximately] $60...