Advent fund acquires majority stake

The American fund Advent International has acquired a majority stake in the two French niche perfume brands Parfums de Marly and Initio Parfums Privés. The amount of the deal was not specified.

Founded in 2009 by Julien Sprecher, the Parfums de Marly label belongs to the independent Sprecher Berrier Group of Companies, which also includes the high-end fragrance brand Initio Parfums Privés, launched in 2015.

Parfums de Marly, which is sold in 1,200 multi-brand stores around the world and its own boutiques in Paris, London and Dubai, achieved sales of €262 million in 2022, an increase of 51%.

As for Initio, which opened its first shop in Paris a year ago, no sales figures have been released. The unisex brand, which describes itself as a “neo-perfumery” label, is nevertheless present in around fifty countries, including the United States.

By the end of 2023, Sprecher Berrier Group of Companies, headquartered in Dubai, United Arab Emirates, expects retail sales to reach $500 million (€450 million).

Julien Sprecher will remain the group’s executive chairman and creative director, and will also retain a minority stake, described as “significant”.

In the beauty sector, Advent International has invested in selective German perfumeries Douglas (owner of Nocibé) and, in 2021, created Orveon, a structure which houses the make-up and skincare brands Laura Mercier, Buxom and BareMinerals, acquired from the Shiseido group. Its arrival as majority shareholder will accelerate the international expansion of Parfums de Marly and Initio Parfums Privés and strengthen their omnichannel presence.