The fashion and beauty company, Puig, announced that it has acquired a majority stake in the Swedish luxury brand, Byredo.
Byredo founder Ben Gorham and Manzanita Capital will both remain as shareholders, with Ben Gorham continuing his creative leadership (Chief Creative Officer) and Manzanita will remain committed to the long-term growth and vision of Byredo.
The acquisition of Byredo will reinforce Puig’s high-end positioning with a brand that has redefined luxury and owns a true hearted direct-to-consumer approach. Puig have said that they will continue supporting the development of the brand, boosting and nurturing its current positioning.
“We are thrilled to welcome Byredo, as it perfectly reinforces Puig purpose of empowering people’s selfexpression, and a strong and conscious commitment in the ESG agenda. Puig will contribute our expertise and resources to the development of this unique brand, which represents modern luxury with a strong consumer connection,” declared Marc Puig, Puig Chairman and CEO. “This new acquisition marks a new key milestone in Puig’s ambition to develop a business with a strong portfolio of purpose-driven brands”.
“Since 2006 I have been fortunate to work with people who believed in a brand that could redefine a luxury and beauty culture, one that was aspirational yet inclusive. The brand has experienced steady and significant growth over the last 15 years and each phase has presented new challenges and opportunities. I really believe that Puig’s experience with founder-led brands in beauty and fashion will help us realize our full potential in multiple categories. Puig has demonstrated a competitive and disruptive approach to building business – something that truly resonates with the culture that is Byredo.”
– Ben Gorham, Founder and Chief Creative Officer.
“Manzanita is a family run business, and Byredo has been part of our family for almost 10 years. It has been an incredible journey and we are really proud that this next milestone for Byredo is being created together with another privately owned family business who share our passion for building exceptional brands.”
– William Fisher, CEO Manzanita Capital.