Puig acquires a stake in fragrance player EB Florals

23-May-2016 - Last updated on 24-May-2016 at 13:08 GMT

Spain-based fragrance player Puig has acquired a minority stake in the new business Buterbaugh Florals (EB Florals).

The company was formed in 2015 by Eric Buterbaugh, world-renowned floral designer, and Fabrice Croisé, with the aim of creating an ultra-exclusive line of floral-based fragrances targeting the US market.

Created in collaboration with some of the world’s leading fragrance creators, the collection currently includes a range of eight unisex fragrances and six candles.

EB Florals expands footprint

Since its launch last year, the EB Florals line has garnered significant traction, having been made available online and at the brand’s Hollywood boutique.

The next stage of the brand’s expansion will see it on shelves at Saks Fifth Avenue in Beverly Hills, San Francisco, Las Vegas, Houston and Toronto, as well as Bergdorf Goodman, New York.

“Puig will bring to EB Florals its market know-how, as one of the key players in the fragrance business worldwide, as well as its expertise in and respect for the development of avant-garde concepts and innovative fragrances,” said Fabrice Croisé.

Puig's proven track record

Puig CEO and Chairman, Marc Puig, said that the company has a proven track record in identifying up and coming fragrance brands and helping to accelerate their business development.
“We see this partnership with EB Florals as an opportunity to expand our presence in the exclusive high-end fragrance category, where we already operate through our owned niche brands, Penhaligon’s and L’Artisan Parfumer, acquired last year,” said Puig.

The move represents a step towards expanding Puig’s US footprint, which it has been attempting to rebuild since it lost its partnership with Coty back in 2013, following a six year partnership.

Puig in North America

The partnership began in 2007 and saw Coty developed an established relationship with Puig as one of its distributors of choice in overseas markets.

Coty distributed a number of prestige brands, such as Prada, Nina Ricci, Carolina Herrera and Paco Rabanne, for Puig in the United States and Canada.

Through this agreement, both parties profited from the other, allowing Coty to build its portfolio to the point where it wishes to focus fully on its own brands; and helped Puig expand its strategic initiative for its mass brand’s business.