Original title: This explosive niche fragrance needs to change ownership, the same door expensive brand Eve Lom has just been acquired by Yixian e-commerce
According to external sources, Sweden’s high-end niche perfume BYREDO is currently hiring Goldman Sachs to evaluate its trading options. If it succeeds, this high-end niche fragrance brand that has exploded in China may change ownership.
The foreign media source also claimed that BYREDO’s annual sales exceeded 100 million U.S. dollars (about 645 million yuan).
01. Perfume is hot, who doesn’t know BYREDO?
BYREDO, founded by artist Ben Gorham in Stockholm, Sweden in 2006. Ben Gorham’s father is Canadian and his mother is Indian. The blend of East and West makes the perfume in his hand also present a collision of modern minimalism and oriental sentiment.[For details, please refer to the previous report of “Cosmetics Finance Online” “Accelerating the layout of the Chinese market, and the Swedish fragrance brand BYREDO goes out of the circle with a sense of story | CBO FM”]
The round black bottle cap, the short cylindrical transparent bottle body, the minimalist trademark with black lettering on the white background-15 years since its establishment, BYREDO has always been known for its minimalist packaging design.
Just in July of this year, BYREDO officially opened its flagship store on Tmall. The Chinese name of BYREDO abandoned the more familiar “Bairui De” by consumers and chose “Beriduo” instead. The popular perfume is priced at 1350 yuan/50ml.
The reporter of “Cosmetics Finance Online” discovered that the flagship store was opened by Xiangrui (Shanghai) Trading Co., Ltd., and the company was 100% owned by BYREDO (Hong Kong) Limited.
At present, as a niche fragrance brand, BYREDO has many fragrances that are popular in China, and its famous name makes it no longer a niche. Searching for brand keywords in Xiaohongshu, there are nearly 30,000 notes. The scents that appear in sequence are Super Cedar, No Man’s Land Rose, Desert Lonely Soul, White Romance, and Song of the Wanderer. The above-mentioned scents have long been on the list in all kinds of perfume inventory.
02. A fragrance brand that doesn’t want to sell clothes is not a good luxury brand
At the same time, BYREDO is also one of the fragrance brands with the most extended categories. Not only perfumes, BYREDO seems to want to be a full-category luxury brand.
As far as the beauty sector is concerned, BYREDO has multiple categories such as perfume, home fragrance, make-up, hand and body care. It is worth noting that its makeup line will be launched in 2020 in collaboration with creative artist Isamaya Ffrench.
In other areas, BYREDO also launched home furnishing products, leather goods, clothing, shoes and hats, magic mirror accessories and other products. The brand also regularly cooperates with well-known artists, music producers and jewelry designers such as Travis Scott and Virgil Abloh.
Just recently, BYREDO’s newly launched leather goods also brought in Wei Daxun, Song Zuer, He Sui and other stars to perform. The Blueprint Micro package featured on its official website is priced at 550 Euros (approximately RMB 4,200).
Offline, BYREDO just opened Zhejiang’s first flagship store in Hangzhou Hubin Yintai in77 in July. This is also the brand’s eighth store in mainland China. It is reported that the store has a collection of classic fragrances, home fragrances and BYPRODUCT series of products as well as limited edition “Upcycled” series of leather goods series, and will launch the highly anticipated beauty series in September 2021.
03. The “big guy” behind it is open to selling, and the same brand Eve Lom has “married” into Yixian e-commerce
In 2013, BYREDO was acquired by Manzanita Capital UK LLP, a British private equity investment institution.
This is a company with strong financial resources-the founder is the second son of the 10 billionaire and the founder of the famous American clothing giant GAP Group; the beauty field hunts quite extensively-the company has 7 major beauty brands and multiple investment portfolios of professional beauty investment mechanism.
Its acquired brands include BYREDO and Diptyque, two high-end niche perfume brands that have exploded in China; the high-end skin care brand EveLom, which was acquired by Perfect Diary’s parent company Yixian e-commerce only in March this year; the American Hollywood professional makeup brand KEVYNAUCOIN; Malin+Goetz, a minimalist functional brand that has hit social media; Susanne Kaufmann, an Austrian organic niche skin care brand, and so on.
In addition, Manzanita Capital also acquired Space NK, a well-known beauty retail store, as early as 2002. In April last year, Space NK suddenly announced that it would close its stores and lay off employees and withdraw from the Chinese market.
In addition to acquisitions, ManzanitaCapital has also made the first or second round of investment in more cutting-edge beauty brands, such as DTC beauty unicorn Glossier, well-known online beauty retailer CultBeauty, and female sex life solution provider Unbound , British appointment beauty service platform BlowLTD and the United Kingdom
The beauty social consignment platform MyBeautyBrand and so on.
Judging from the consistent buying and selling of Manzanita Capital, the company is open to selling brands. Due to the downturn in offline retail, Manzanita Capital has been rumored to be looking for a home for Space NK, which has withdrawn from multiple countries and markets. At the beginning of this year, Eve Lom was also sold to the Chinese company Yixian e-commerce. Earlier in 2020, Manzanita Capital also sold Lipstick Queen to Forma Brands, the parent company of online beauty retailer Morphe.
On the company’s official website, Manzanita Capital stated that it not only provides funds, but also has closer ties with its portfolio companies in terms of channels, marketing, and new retail. At the same time, all the brands invested by the company are operating independently. Currently, it is looking for companies with excellent products, enthusiastic founders and talented teams, primarily considering companies in the United States, the United Kingdom, Europe and Asia.
Edit | Zhang Huiyuan