LVMH has acquired French perfume house Maison Francis Kurkdjian, expanding the luxury group’s reach to the niche fragrance market.
Co-founders Francis Kurkdjian and Marc Chaya will continue in their roles as CEO and creative director respectively, and retain some shares in the company. The financial details of the acquisition were not divulged.
“I am delighted to welcome Maison Francis Kurkdjian to the LVMH Group. Their avant-garde spirit and the quality of their creations give this fragrance House great potential and a promising future,” said Bernard Arnault, chairman and chief executive officer at LVMH.
“We share the same spirit of creativity, excellence and entrepreneurial drive as the LVMH Group,” said Chaya. “This rapprochement is built on a shared vision and we will continue to guide the future of our House as part of an exceptional Group.”
Maison Francis Kurkdjian was established in 2009, with Kurkdjian acting as the company’s bespoke perfumer. The perfume house now has eight boutique stores in France, Malaysia, Taiwan and Dubai, and its products are sold in over 40 countries across the world.
LVMH’s Perfumes & Cosmetics division earned 4.9 billion euros last year, with 38 percent of the sales coming from perfumes.