L'Occitane buys Florentine luxury home fragrance brand Dr. Vranjes
04/01/2024 09:31
MILAN, Jan 4 (Reuters) - Beauty manufacturer and
retailer L'Occitane Group 0973.HK has bought luxury home
fragrance brand Dr. Vranjes Firenze from BLUEGEM, the European
private equity firm said on Thursday.
The deal values Dr. Vranjes at around 150 million euros
($164 million), according to a person with knowledge of the
matter.
BLUEGEM, who acquired a majority stake in Dr. Vranjes in
2017, said the brand had more than tripled its sales since then,
with revenues topping 42 million euros last year.
The core profit margin is of more than 30%, BLUEGEM said
without providing further details. ($1 = 0.9128 euros)
(Reporting by Elisa Anzolin; Editing by Valentina Za)
((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))