THE WHAT? Luxury group LVMH has acquired French perfume company Officine Universelle Buly 1803.
THE DETAILS The buy out comes four years after LVMH made an initial investment in the perfumer via its minority investment fund LVMH Luxury Ventures.
The perfumer will join 75 other Maisons under LVMH, and is said to be ‘recognized for the quality of its products (in perfumes, face and body care, among others), the diversity of its universe, and the passion that this brand arouses,’ according to a statement.
THE WHY? LVMH’s acquisition is said to be the ‘next chapter’ in Buly’s history, with the luxury giant set to help it pursue growth and overseas expansion.
Bernard Arnault, Chairman and CEO of the LVMH Group, said, “Buly perfectly matches the philosophy that we find in the Maisons of the LVMH Group, combining an unparalleled heritage, craftsmanship and a unique experience in exceptional boutiques. Its refined products enjoy a significant success around the world and we will do everything we can to ensure that this great family entrepreneurial adventure, led by Victoire de Taillac and Ramdane Touhami, continues to grow within the LVMH family.”
