Fragrance brand Puig buys stake in Brazil naturals player Granado

02-Oct-2016 - Last updated on 04-Oct-2016 at 13:56 GMT

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Puig, one of the most significant independent global fragrance players, has taken a minority stake in Granado, a Brazil-based storied pharmacy and owner of naturals brand Phebo.

The move is interesting because it gives Spain-based Puig a footing in the important Brazil market, while also giving the opportunity to expand the Granado and Phebo businesses, both nationally and internationally.

The Granado pharmacy business was established in 1870, and has established itself as a producer of high-quality natural-based preparations, focused on the fragrance, hair and skin care categories.

It purchased the Phebo brand in 2004, and has evolved to become a high profile glycerine soap and fragrance brand in Brazil, and increasingly overseas on the back of Granado’s international expansion.

“Puig will help us to continue with the expansion of the concept stores in Brazil and abroad – which started in 2013 in the French market, with a corner in the luxury department store Le Bon Marché,” said Sissi Freeman, Granado’s marketing and sales director, in a press release that confirmed the transaction.

Foot in the Brazil market for Puig

The Brazil market has traditionally been highly protected from international competition due to strict trading laws that limit the influence of foreign businesses.

With this move, Puig now has a firmer footing in Latin America’s biggest market, as well providing further opportunity to help Granado expand.

Hinting that there might be further co-operation between the two businesses in the future, Puig chairman and CEO Marc Puig said: “We view this agreement as the basis for a long-term partnership.”

Puig acquires stake in EB Florals

Back in May of this year, Puig made another similar investment when it bought a stake in US-based Buterbaugh Florals (EB Florals).

The company was formed in 2015 by Eric Buterbaugh, world-renowned floral designer, and Fabrice Croisé, with the aim of creating an ultra-exclusive line of floral-based fragrances targeting the US market.

Created in collaboration with some of the world’s leading fragrance creators, the collection currently includes a range of eight unisex fragrances and fragranced candles.