Spanish perfume group Puig and private equity group Cinven are in the race to acquire Parfums de Marly. French cosmetics giant L’Oréal is looking to make more acquisitions in China and in India. LVMH is nearing a deal for the sale of its 50 percent stake in Fenty Beauty. And a small French cosmetics brand is about to be put up for sale. Miss Tweed has all the details.
These deals are gaining pace as the beauty sector, and perfume in particular, is proving much more resilient than the global luxury sector during the current spending downturn. Consumers continue to indulge in accessibly priced designer fragrances and high-end perfumes. On the other hand, they have become reticent to splurge on overpriced luxury handbags and ready-to-wear, analysts say.
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