Puig has acquired a majority stake in Byredo, the luxury fragrance and lifestyle brand founded in Sweden that has built a cult following selling gender neutral fragrances in sleek packaging across upmarket department stores and boutiques globally.

Spanish conglomerate Puig, which owns Carolina Herrera, Nina Ricci, Paco Rabanne, Charlotte Tilbury and Jean Paul Gaultier as well as the fragrance licences of Christian Louboutin and Comme des Garçons, said it will support the direct-to-consumer brand as it develops its luxury positioning, according to a statement today.

— Read more in Puig snaps up majority stake in cool Swedish fragrance brand Byredo at Vogue Business, or see Good-Byredo? Puig Acquires Byredo For Estimated €1 Billion at Highsnobiety.