Latest news with #BenGorham
Fashion United
24-06-2025
- Business
- Fashion United
Byredo founder Ben Gorham's exit marks a familiar pattern in beauty M&A
Ben Gorham, the founder and creative force behind Swedish fragrance label Byredo, is stepping away from the brand nearly two decades after its inception and three years after selling a majority stake to Spanish conglomerate Puig, reported Cosmetics Business. Founded in 2006, Byredo evolved from a niche fragrance label into a full-fledged lifestyle brand spanning beauty, fashion, and homeware. Known for its minimalist packaging and distinctive scent names, the brand attracted Puig, which acquired a majority stake in 2022 at a reported 1bn euro valuation. Gorham stayed on as Chief Creative Officer under a transitional agreement that ended this June. The move reflects a growing trend: creative founders departing once their brands are absorbed by global players. While Puig has emphasised its commitment to preserving brand DNA, as seen in its stewardship of Charlotte Tilbury and Dries Van Noten, founder exits inevitably shift a brand's creative direction toward commercial scale. Analysts note that Gorham's exit follows a familiar post-acquisition cadence. Conglomerate ownership offers growth infrastructure but can also dilute founder-led vision. As valuations peak, we often see founders stepping aside, signalling the end of the artisanal phase and the beginning of corporate brand building. Puig's Chairman and CEO Marc Puig praised Gorham's role in establishing Byredo's distinctive identity, vowing to uphold the brand's ethos while unlocking further growth. However, as Puig consolidates its portfolio with an eye toward eventual IPO readiness, questions remain about how much of Byredo's avant-garde edge will remain intact.
Business of Fashion
19-06-2025
- Business
- Business of Fashion
Ben Gorham to Exit Byredo
Ben Gorham will leave Byredo at the end of June, stepping away from the brand he founded in 2006. The departure comes two years after Puig acquired full ownership of the Stockholm-based fragrance and lifestyle company. Gorham had agreed to stay on through mid-2025 as part of Puig's acquisition terms, maintaining creative oversight during the transition. His exit finalizes Puig's integration of the brand, which it purchased amid preparations for its stock market debut last May. Byredo was valued at over €1 billion ($1.15 billion) at the time of the 2022 deal, and has since expanded across categories including cosmetics, leather goods and jewellery. The brand's makeup line, launched in 2020, was developed with artist Isamaya Ffrench and later overseen by Lucia Pica. Puig's portfolio includes brands like Rabanne, Charlotte Tilbury and Dries Van Noten. The Spanish group is positioning itself as a major player in high-end fragrance and beauty, segments that continue to perform well despite weakness in other areas of the luxury market. Learn more: Byredo's Ben Gorham on Propelling a Niche Brand to Global Success For 'The State of Fashion: Beauty' founder Ben Gorham breaks down Byredo's journey to its recent acquisition by luxury group Puig and how indie labels can flourish in a crowded market.
Fashion Network
18-06-2025
- Business
- Fashion Network
After Puig's full takeover, Byredo founder Ben Gorham announces departure
Ben Gorham, the founder of Swedish luxury fragrance label Byredo, is set to step down by the end of June, nearly twenty years after launching the brand in Stockholm. Known for its minimalist aesthetic and cult-favorite scents, Byredo has become one of the most prominent names in global niche perfumery. While Gorham has maintained a low public profile, his recent LinkedIn update—marked 'Open to work'—hinted at the transition. The news comes three years after Spanish luxury group Puig acquired a majority stake in the brand. Byredo had previously been backed by British private equity firm Manzanita Capital since 2013. Though financial details of the Puig deal were never disclosed, industry sources estimated the valuation to be close to €1 billion. Despite the change in ownership, Gorham has continued to lead the creative direction until now. Puig completed its full brand acquisition in 2023, ahead of its stock market debut, bringing Byredo into a growing portfolio that includes Charlotte Tilbury, Jean Paul Gaultier, L'Artisan Parfumeur, and Dr. Barbara Sturm. Gorham and Puig chairman Marc Puig confirmed the founder's exit to WWD, describing it as a 'long-planned and mutual decision.' The transition is expected to be finalized by the end of the month. A former professional basketball player with no formal training in perfumery, Gorham founded Byredo—short for 'By Redolence'—in 2006. He quickly gained recognition for pushing creative boundaries in the fragrance world, combining unconventional inspirations with sleek, Scandinavian design. Under his leadership, Byredo evolved into a lifestyle brand encompassing fragrance, makeup, leather goods, and eyewear. Gorham's creative collaborations further boosted the label's profile, including a 2018 partnership with the late Louis Vuitton artistic director Virgil Abloh on a project titled Elevator Music and a 2019 capsule collection with Swedish outdoor label Peak Performance. Byredo's refined yet experimental identity has made it a mainstay in premium fragrance and concept stores around the world. With Gorham's departure, Puig plans to continue scaling the brand globally while maintaining its artistic legacy. While Gorham has not announced his next venture, his track record suggests another creative chapter may soon be underway.
Fashion United
21-05-2025
- Business
- Fashion United
Byredo expands beyond London with Victoria Leeds flagship
Moving away from the typical London-centric trajectory of luxury beauty, Swedish fragrance house Byredo is preparing to open its first standalone store outside the capital — a 2,154-square-foot boutique in the heart of Victoria Leeds. This move marks a geographic milestone for the cult label, but also reflects the broader rise of niche beauty in regional luxury retail environments. The new space, located in Victoria Quarter — already home to Aesop, Jo Malone, and Mulberry — signals Byredo's confidence in the northern market's appetite for elevated beauty and lifestyle products. It follows the brand's successful concession within Harvey Nichols Leeds, where sustained footfall and strong sales performance provided a reliable proof of concept. Best known for its minimalist bottles and conceptual scent narratives, Byredo has built a loyal global following since its founding in 2006 by Ben Gorham. Acquired in 2022 by Puig, the brand remains emblematic of the niche fragrance category — one that continues to outperform the broader beauty market. According to market research firm NPD Group, prestige niche fragrance sales in the UK grew 13 percent year-on-year in 2023, compared to 7 percent growth in mass-market fragrance. This trend is further amplified by Gen Z and Millennial consumers, who are drawn to the artisanal positioning, perceived authenticity, and layered storytelling of independent brands. The Leeds opening will see Byredo expand its physical retail experience to include not only its core fragrance line, but also cosmetics, home goods, leather accessories, and small luxuries — part of a deliberate shift toward full lifestyle branding. The move dovetails with Puig's strategy of cultivating vertical retail experiences to drive both brand equity and margin control. 'The luxury nature of Byredo means they will be a perfect fit with our leading tenant mix," commented Rachel Bradburn, leasing director at Victoria Leeds. "Yet another strategic brand decision to launch its first standalone store outside of London. Byredo's flagship further cements Victoria Quarter as the go-to premier destination for luxury brands.' Victoria Leeds has been steadily positioning itself as a regional luxury hub, with recent arrivals such as Aesop and the announcement that sustainable womenswear label Nobody's Child will also open its first northern store there. These moves reflect a growing recalibration of retail geography, as brands increasingly seek to balance London flagship dominance with broader national relevance — and direct-to-consumer economics. For Byredo, the Leeds opening is less a test case than an assertion: niche beauty has matured, and its market is no longer confined to urban centres or online exclusivity. In a post-pandemic retail environment where experience, locality, and curation are gaining renewed importance, the move underscores a simple truth — niche is no longer niche. It's the new mainstream, and it's going regional.
