WHO: Relaunched in 2014 by Ramdane Touhami and Victoire de Taillac, Officine Universelle Buly 1803 (Buly) is a Parisian brand inspired by Jean-Vincent Bully, emblematic perfumer of the 19th century. The unique identity seamlessly blends heritage and modernity, tradition and innovation, differentiating the brand in today's beauty landscape. Buly has 28 stores located in Paris, London, Hong Kong, Tokyo, Kyoto, and Seoul, 10 counters in Australia, and about 800 stockkeeping units in its portfolio. The water-based scents generate between 30% and 40% of revenue.
IN THEIR OWN WORDS: "Buly perfectly matches the philosophy that we find in the maisons of the LVMH group, combining an unparalleled heritage, craftsmanship and a unique experience in exceptional boutiques," Bernard Arnault, Chairman and Chief Executive Officer of LVMH, said in a statement. "Its refined products enjoy a significant success around the world, and we will do everything we can to ensure that this great family entrepreneurial adventure, led by Victoire de Taillac and Ramdane Touhami, continues to grow within the LVMH family."
"Our intention when we invest is not to acquire the brand at the end of the investment period, but the alchemy was so good that it was quite natural for LVMH now to get closer to Buly," Julie Bercovy, founder and head of LVMH Luxury Ventures, told WWD.
"Since 2014, we have been keen to revive an iconic Parisian Maison, with a powerful and unusual universe, drawing its inspiration from forgotten or little-known beauty secrets. We know that Buly will remain true to its unique identity within LVMH, the birthplace of authentic and powerful Maisons," said Victoire de Taillac, co-founder and henceforth Director of Product Strategy, Image and Communication of the brand.
- LVMH acquired Officine Universelle Buly 1803. The terms of the deal were not disclosed.
- Buly was the first investment from LVMH's Luxury Ventures minority investment fund in October 2017, and the Buly acquisition marks the only time a brand supported by LVMH Luxury Ventures has been acquired by the LVMH group.
- De Taillac will remain Buly's Director of Product Strategy, Image and Communication. Touhami continues to focus on the brand's stores and products through his design agency; however, he will step down from the CEO role.
- A new CEO will be named and report to Stéphanie Medioni, Executive President at LVMH Perfumes and Cosmetics.
- A total of 23 new Buly stores are slated to open by year-end.
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