Perfumes y Diseño acquires minority stake in Oteyza
Perfumes y Diseño is trying its luck in fashion once again. The Madrid-based company, which specialises in the conception and distribution of perfumes, is giving itself a second chance in the sector after failing to resell the Spanish luxury brand Delpozo. The adventure ended for the business in 2020 without an agreement with its potential buyer. However, the group owned by Pedro Trólez has now acquired a minority stake in the brand ‘Oteyza’, which specialises in premium formal wear. The brand’s founders Paul García de Oteyza and Caterina Pañeda will retail majority control of Oteyza and its creative direction.
“In 2020, Perfumes y Diseño will devote all of its efforts to developing the world of perfumery and cosmetics,” announced the conglomerate specialising in the development of fragrances in February, 2020, just before the start of the pandemic. Those plans now seem however to have changed and the Madrid-based business is looking to try its luck in fashion once again with Oteyza.
“In order to continue to bring haute couture to life, we have created a synergy between our two businesses to offer a new path for avant-garde fashion. Together, we want to preserve the incredible cultural heritage of our country,” announced both businesses in a join statement which, however, did not reveal the monetary total of the acquisition. “PYD has a long history in the luxury sector thanks to Delpozo, a brand which has made its mark and been a source of inspiration for many other fashion houses,” said the businesses.
“Our goals are very ambitious,” Oteyza’s co-founder Paul García de Oteyza told FashionNetwork.com, saying that he plans to participate in the next edition of Paris Fashion Week for the fourth time. “We are a small operation and we needed an ally, a partner which would enable us to continue our development. Thanks to its experience with Delpozo, Perfumes y Diseño knows these synergies, this cultural heritage, and has a network of buyers and suppliers capable of giving us access to new markets. We could not have dreamt of better.”
The future of Oteyza : a streetwear line and dedicated perfume
Its new collaboration with the perfume specialist should also see Oteyza enter the world of fragrance in the medium term. “It is very important that Oteyza has its own fragrance in the future, but we must first continue to better position ourselves in the international market to gain more notoriety,” said the brand’s founder. During the time when Perfumes y Diseño was busy relaunching Delpozo, a perfume project was discussed with its creative director Josep Font but the idea never came to pass.
“For the moment, we will develop streetwear products,” revealed Paul García de Oteyza. This new line will complete the brand’s formal offering and will comprise of pieces made with Oteyza’s recognisable flair and in line with its high-end positioning which features jackets, suits, capes, and hats among other items. “We would like to make a more aspirational line with products that are a little more trendy but retain the spirit of Oteyza with very powerful storytelling,” he said. New additions to the brand’s offering will include sneakers and clothing that in generally more comfortable and simpler but remaining just as sophisticated, in keeping with the spirit of Oteyza. “We are very happy and we very much want to continue to fight to make Spanish fashion a reality on the international market,” he concluded.
Perfumes y Diseño’s own-brand portfolio includes Tous, El Ganso, Starck Paris, Halloween, and Scalpers. The group also manages distribution for perfume brands Goutal Paris, Salvatore Ferragamo, and Juliette Has A Gun and also owns the cosmetic brands Ahava and REN Clean Skincare. Today, the group is rounding out its catalogue with its minority investment in menswear specialist Oteyza. Founded in 2012, and awarded the National Fashion Prize in 2018, the Oteyza brand defines itself as, “a laboratory of creation in perpetual evolution”. The brand currently runs a boutique atelier on Conde de Xiquena street in Madrid and creates ready-to-sew collections inspired by artisanal tailoring techniques.
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