L'Occitane Groupe makes its first move in 2024. The French cosmetics group has bought the luxury fragrance brand Dr. Vranjes Firenze. As the brand itself announced in its press release, it hopes that this move will help it to position itself more firmly in the premium fragrance sector.
Dr. Vranjes Firenze has been owned by the Bluegem investment fund and in the last six years managed to triple its sales to more than 42 million euros by 2023. For more than 40 years, the brand has been at the forefront of luxury home fragrances, with a presence in more than 75 countries and more than 650 points of sale.
The operation is expected to be completed during the first quarter of the year. According to Modaes, the figure that the French cosmetics group would have paid to acquire the brand would be around 150 million euros.
Regarding the acquisition, the president of L'Occitane Groupe, Reinold Geiger, explained that the addition of Vranjes Firenze complements its premium fragrance and beauty collection and helps to differentiate itself from other cosmetics giants.
L'Occitane grew sales in the first half of the year by almost 25%, an increase that was particularly driven by the Sol de Janeiro brand that was acquired at the end of 2021. In China, it achieved 22% growth compared to the same period last year.