LVMH acquires Officine Universelle Buly 1803
LVMH chose the last day of Paris Fashion Week to announce its latest acquisition. Having accompanied Officine Universelle Buly 1803's development over the last few years, the Paris-based luxury conglomerate has now purchased the French cosmetics brand, known for its refined high-end offering, for an undisclosed sum.
As explained by the French luxury group, the brand has "been supported and assisted for nearly four years by LVMH Luxury Ventures." This LVMH-run investment fund takes minority stakes in emerging brands with strong potential and has an investment portfolio including the Gabriela Hearst brand, watch e-tailer Hodinkee and resale marketplace Stadium Goods.
"Buly" was the first investment made by LVMH Luxury Ventures in October 2017. At the time, the house operated two boutiques, versus some 30 today. Relaunched in 2014 by Ramdane Touhami and Victoire de Taillac, Officine Universelle Buly 1803 is a Parisian brand inspired by iconic 19th-century parfumier Jean-Vincent Bully. The company's high-end offering includes fragrances, face and skincare, brushes and ancestral beauty products.
"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. 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," commented LVMH CEO Bernard Arnault in a release.
"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," added de Taillac, the brand's co-founder and, henceforth, director of product strategy, image and communication.
Officine Universelle Buly 1803 has therefore become the 76th brand in LVMH's portfolio, where it will rub shoulders with the likes of historic Italian perfumer Acqua di Parma and French fragrance brand Francis Kurkdjian.
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