As seen in Retail Brew
Byredo, founded in 2006, offers a range of fragrances, candles, and cosmetics and is a hot-ticket beauty brand, growing 63% YoY, according to Business of Fashion. In 2021, the company reported $134 million in sales, up from $70 million in 2019.
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Although Byredo has gained more recognition over the past few years, stepping into the mainstream, it still has a niche audience, an added benefit for Puig, according to David Schneidman, director at Alvarez & Marsal Consumer and Retail Group.
He added that Byredo had a unique brand proposition and the new deal would provide them with more capabilities and distribution.