LVMH acquires Officine Universelle Buly 1803
PARIS – LVMH Moët Hennessy Louis Vuitton has added another jewel to its portfolio: the prestige perfume and cosmetics brand Officine Universelle Buly 1803, has learned from WWD.
Terms of the contract are not disclosed.
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“Buly fits perfectly with the philosophy found in the houses of the LVMH group, combining an unparalleled heritage, craftsmanship and a unique experience in exceptional boutiques, ”said Bernard Arnault, Chairman and CEO of LVMH, in a press release.
“Its refined products are enjoying significant success around the world, and we will do everything we can to ensure that this great family entrepreneurial adventure, led by Victoire de Taillac and Ramdane Touhami, continues to grow within the LVMH family”, he added. -he adds.
LVMH, through its minority investment fund Luxury Ventures, supported and assisted Buly for nearly four years.
“When Mr. Arnault gave me the authorization to launch the fund, I immediately contacted Ramdane and Victoire,” said Julie Bercovy, founder and director of LVMH Luxury Ventures, in an exclusive interview. “Buly became the first investment in the fund in October 2017. There were only two stores back then, and now they operate around 30.
“We were very happy to support Buly,” she continued. “When Ramdane and Victoire decided to sell the business, it was natural for us to make an offer and continue this very strong relationship that we have built so far. “
The Buly acquisition is the only time a brand backed by LVMH Luxury Ventures has been acquired by the LVMH group, which has 75 other brands in its portfolio.
De Taillac stated that she and Touhami jointly decided to sell Buly.
“Buly is doing very well,” said de Taillac, pointing to the brand’s network of 28 stores, plus 10 outlets in Australia. “But the past two years have been very difficult due to COVID-19 and travel restrictions. It was difficult for us to work as before, when we went everywhere.
So, to continue growing, the couple felt that they needed a bigger partner and that LVMH was a natural fit.
De Taillac will remain Buly’s Product Strategy, Image and Communication Director, while Touhami will continue to focus on the brand’s stores and products through his design agency. However, he will be stepping down as CEO. A new CEO is expected to be appointed soon and will report to Stéphanie Medioni, Executive Chairman of LVMH Perfumes and Cosmetics.
Buly was relaunched in April 2014 by Touhami and de Taillac. “I sell dreams,” Touhami said in August 2014, in an interview with WWD, while discussing the natural beauty brand.
Body Care ProductsBuly also has a dummy quotient. His idea came in part from reading Honoré de Balzac’s novel “César Birotteau”, which was inspired by a late 18th century perfumer named Jean-Vincent Bully, whose signature mark helped establish the French perfumery.
More concretely, Touhami had long wanted to exploit the proven beauty secrets of the world. He did this for three years to help supply Buly’s shop with Australian emu oil (for its healing and antiseptic qualities); Moroccan poppy powder (for its ability to color the lips), and water-based perfumes (for their softness and moisturizing properties).
There were even painstakingly handcrafted boxwood hair combs in Japan, boar bristle toothbrushes, scented matches, and a huge selection of clay with desert green, blue, illite green clay. and yellow, each with various beautification purposes.
Buly’s products of the same name, made in France the old-fashioned way, without parabens, phenoxyethanol or silicone – including body, face and home items – are housed in beautiful wooden displays made in the style of the Eighteenth century. The floor tiles of the original store in rue Bonaparte were fired in the ancient Etruscan ovens in Sicily and the table tops are in marble.
Touhami said: “When you come here you need time, because it is a journey.”
Personalized service is a big quotient of the Buly experience, with offerings that include names of people written on products in calligraphy and special packaging services.
Two years after its launch, the brand is exported to Taiwan and Korea. Then, de Taillac and Touhami moved their family to Tokyo to open Buly’s first store there, in April 2017.
“It was a big step, because we decided to do it without any partner,” said de Taillac, who explained that Japan is now Buly’s second market, where it will open three more stores before the end of the season. ‘year.
Korea and France are the brand’s other largest geographic markets.
Two years ago, Buly partnered with the Louvre to collaborate on the dissemination of some of the museum’s most iconic works in perfume.
“I have long dreamed of perfumers performing the great works of artists,” Touhami told WWD at the time. “There has always been only visual interaction. Why not olfactory too?
“A lot of people around the world have discovered us through the perfumes of the Louvre,” de Taillac said Thursday.
Buly has around 800 storage units in its portfolio. Water-based fragrances generate between 30 and 40% of the brand’s revenue. Other bestsellers include scented body oils, hand creams, and lip balms, which can be personalized with initials.
Courtesy of LVMH
Bercovy said it was essential for Buly – like all LVMH brands – to remain self-sufficient in order to express her personality.
“Buly’s founders and employees are at the heart and soul of the company, of the brand, and obviously we don’t want to change that,” she said. “So our priority is to keep this magic happening, which is so important and inherent in Buly’s success.”
There is a lot to do for the brand before the end of the year. Buly will open new stores in Europe – in Milan and Munich – in November. A total of 23 new Buly stores are expected to open by the end of the year.
Upcoming product launches include bath salts and new fragrances linked to the Louvre Bond. A sneaker perfume has just been released.
Walk into a Buly store, and time is supposed to stop, de Taillac explained.
“Buly’s sale ceremony is so sophisticated,” Bercovy explained, adding that it sets the standard for many brands. “It is very impressive.”
She said LVMH is proud Buly is joining the group.
“Our intention when investing is not to acquire the brand at the end of the investment period, but the chemistry was so good that it was only natural for LVMH to move closer to Buly now,” said declared Bercovy.
FOR MORE INFORMATION, SEE:
The Officine Universelle Buly and the Louvre join forces
Buly 1803 opens its eighth store in Hong Kong
Retail Report: Buly’s Fantasy Land 1803
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