Kering enters the capital of Matière Première niche perfumes. The French fashion conglomerate, through its Kering Beauté division has acquired a minority stake in the French niche fragrance companyaccording to publication WWD.
This fundraising marks the first minority stake that Kering Beauté has acquired in a brand in the cosmetics sector since Kering’s beauty division was re-established in February 2023. In June 2023, the group acquired Creed, also in the cosmetics segment. niche perfumery.
The company founded in 2019 by Von Knorring, CEO, together with Aurélien Guichard, perfumer and artistic director of the company, and Cédric Meiffret, who is the CEO, is currently initiating a new phase of development, following growth “ extremely fast,” according to Knorring. The three founders remain the majority shareholders of the company.
With its entry into the company, Kering will promote the brand’s own retail growth
Matière Première had a turnover of 30 million euros in 2023, which represented an increase of 70% compared to the previous year. With the injection of funds from Kering, the amount of which is unknown, the company will expand its retail presence in the physical channel, with plans to open its own brand stores starting this year in Paris.
The brand is present today in more than 50 countries and in almost 400 points of sale of the selective channel.
Matière Première’s new funds will also help strengthen the team working at its headquarters in Paris, provide greater regional support and accelerate the expansion of e-commerce on a global scale, with the launch of a new e-commerce for the brand.
For its part, the luxury conglomerate announced a downward first quarter in April. The share price of the group, owner of brands such as Gucci or Yves Saint Laurent, fell up to 9.95% on the Paris Stock Exchange, after the company ended the first quarter of fiscal year 2024 with a turnover of 4,504 million dollars, 11% less than in the same period of the previous year.
