In a strategic move to enhance its high-end brand portfolio, L’Occitane, a leading cosmetics group, has successfully acquired the prestigious Italian home fragrance label, Dr. Vranjes Firenze. While the financial specifics of the deal remain undisclosed, this acquisition reinforces L’Occitane’s commitment to maintaining a globally recognized and diverse brand portfolio.
Established in 1983 by the visionary Dr. Paolo Vranjes, Dr. Vranjes Firenze has become synonymous with exquisite home fragrances, scented candles, and an expanding line of body perfumes. With a strong global presence spanning 75 countries, the brand operates 28 boutiques and enjoys shelf space in 650 retail locations.
Having secured a 70% stake in Dr. Vranjes Firenze in 2007, the Bluegem fund played a pivotal role in the brand’s growth. In 2023, the company achieved an impressive turnover of 43 million euros, solidifying its position in the market. Notably, the brand recently resumed direct operations in Japan, its second-largest market after Italy.
The transaction is slated to conclude by the end of Q1 2024, according to a statement from L’Occitane. In the first half of the fiscal year 2023/24, concluding on September 30, L’Occitane Group reported robust revenues of 1.07 billion euros, marking an impressive 18.5% increase (or 24.9% at constant exchange rates). The addition of Dr. Vranjes Firenze further fortifies L’Occitane’s growth trajectory, with the acquired Sol de Janeiro brand contributing significantly to a sales surge of 173.9% to 270 million euros.
Elevate your home ambiance with the fusion of L’Occitane’s legacy and Dr. Vranjes Firenze’s luxury fragrances.
