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...
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