Penhaligon’s Peonie
Spanish group Puig has acquired British perfume house Penhaligon’s, which takes affect Jan. 23.
Penhaligon’s was previously owned by Fox Paine & Company, a mixed firm of information technology, medical and electric products. With Puig, Penhaligon’s will be part of a network of more similar fashion and beauty brands, including scents licensed by Prada and Valentino.
British flavor
Penhaligon’s, established in 1870, currently operates its own global retail network, including direct operated stores and placement in Saks Fifth Avenue, Four Seasons properties and Harrods. It is most well-known for its Blenheim Bouquet, which was crafted in 1902 for the Duke of Marlborough.
Penhaligon’s Bayolea grooming set
Part of the same deal, Puig also acquired L’Artisan Parfumeur Paris, which has been creating innovative scents since 1976.
For Puig, this expands its collection of prestige fragrance houses, and more thoroughly positions it in the luxury perfume category.
Acquiring brands and retailers can allow a group to create more of a global presence.
For instance, in 2014 Neiman Marcus Group acquired global online luxury business Mytheresa.com as well as the flagship store in Munich.
The acquisition will leave the online store and the flagship shop as an independent subsidiary of Neiman Marcus Group with the management teams remaining similar. The procurement of Mytheresa.com will help Neiman Marcus expand its global reach (see story).