Laura Slatkin founded NEST in 2008 and launched the company’s first fine fragrance collection in 2012. Now Eurazeo owns the majority stake in the company, which had previously been owned by Tengram Capital Partners, and Slatkin remains very much involved as executive chairman of the brand. The company’s current CEO Nancy McKay will also stay on under the new ownership.
“The chemistry and shared vision with Eurazeo was undeniable,” says Slatkin in a media release about the deal.
“Our new partnership brings together seasoned experts, many with over 25 years of experience in developing global luxury brands. I have tremendous respect for Jill Granoff [CEO of Eurazeo Brands] and Virginie Morgon, Eurazeo’s deputy CEO, and we are excited to tap into their expertise for our next chapter of growth.”
The company’s current product portfolio comprises more than 30 SKUs: home fragrance items like scented candles and reed diffusers; personal care items including liquid soaps and hand lotions; and a fine fragrance collection of eau de parfum sprays, roller balls, and body creams.
NEST products retail on the brand’s own ecommerce site, on QVC, and in department stores, specialty retailers, and boutiques. As Granoff sees it, “NEST has developed a very strong brand that resonates with a broad consumer base driven by its compelling fragrances, distinctive packaging and accessible luxury positioning.”
“We are delighted to partner with Laura and Nancy to accelerate NEST’s growth across product categories, channels and geographies,” she tells the press. “The company’s successful track record to date and global growth prospects make NEST Fragrances the ideal first investment for Eurazeo Brands.”
The Eurazeo Brands deal will see NEST grow through calculated brand awareness, product development, and global retail expansion.
As the media release announcing completion of the deal describes it, “the firm’s majority investment, along with a minority investment from Slatkin, will be used to diversify product offerings, build consumer awareness and expand across retail and digital channels to meet the demands of an existing loyal customer base and increase access to global consumers.”