THE WHAT? Puig has invested an undisclosed sum in Chinese fragrance firm, Scent Library, according to a report published by WWD.
THE DETAILS The funds will be used to develop a new collection of scents rooted in Chinese culture as well as the optimization and integration of the brand’s global supply chain and the creation of a ‘deep immersive consumer experience at all touchpoints’, the company said in a statement, per WWD.
THE WHY? Marc Puig, CEO of the Spanish fragrance manufacturer told WWD, “Partnering with Scent Library was a very appealing opportunity to participate in the development of the Chinese fragrance market with a Chinese-based company and a Chinese-founded team.”