THE WHAT? The L’Occitane Group has acquired Dr. Vranjes Firenze, an Italian luxury home fragrance brand.
THE DETAILS Dr. Vranjes Firenze, founded in 1983 by Dr. Paolo Vranjes, specializes in luxury home scents and has a presence in over 75 countries with 28 mono-brand stores and 650 points of sale. The L’Occitane Group, known for its sustainable beauty and wellness products, plans to integrate this brand into its premium beauty and fragrance portfolio.
THE WHY? The acquisition is part of L’Occitane Group’s strategy to expand and diversify its range of premium beauty and fragrance brands globally. The transaction is expected to be completed by the end of the first quarter of 2024.