×
356
Fashion Jobs
H&M
Regional Data Privacy Manager - Region North
Permanent · Stockholm
H&M
Security Software Engineer With Warehouse Security Background
Permanent · Stockholm
H&M
Accounting Business Expert
Permanent · Stockholm
H&M
Strategic Buyer For Customer Packaging
Permanent · Stockholm
H&M
Solution Architect in Partner Connectivity Team Within Business Tech
Permanent · Stockholm
H&M
Business Analysts With Business Intelligence Competence to Group Expansion, h&m
Permanent · Stockholm
H&M
Product Owner to Fulfilment Center Operations
Permanent · Stockholm
H&M
Product Owner – Global Customer Analytics
Permanent · Stockholm
H&M
Technical Product Owner to Customer Engagement
Permanent · Stockholm
H&M
Legal Counsel to Regulatory & Compliance
Permanent · Stockholm
H&M
Product Owner to Finance, h&m Group
Permanent · Stockholm
H&M
Technical Product Owner For Decoupling & Microservices
Permanent · Stockholm
H&M
Product Owner - ai Foundation, Customer ai
Permanent · Stockholm
H&M
Business Application Specialist
Permanent · Stockholm
H&M
Product Area Analyst - Customer Engagement (Customer Domain @Business Tech)
Permanent · Stockholm
H&M
Product Analyst to h&m Business Tech - Customer Domain
Permanent · Stockholm
H&M
Product Owner - Web Checkout Portfolio Brands
Permanent · Stockholm
H&M
Product Owner - Web Checkout
Permanent · Stockholm
H&M
Design Operations Manager, Brand Services
Permanent · Stockholm
H&M
Business Controllers to Group Expansion
Permanent · Stockholm
H&M
Tech Lead/Software Engineer to in Store Stock Optimization
Permanent · Stockholm
H&M
Communication Manager to Customer Activation & Marketing Nordics (1 Year Contract)
Permanent · Stockholm
Translated by
Nicola Mira
Published
Sep 20, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Puig invests in Chinese fragrance brand Scent Library

Translated by
Nicola Mira
Published
Sep 20, 2021

Catalan luxury group Puig has recently acquired a stake in Chinese fragrance brand Scent Library. The financial details of the operation have not been disclosed, but the deal is proof of the appetite that leading beauty groups have developed for the highly promising Chinese perfume market.


The L.B.K Water perfume by Scent Library


“The partnership with Scent Library is a very attractive opportunity to take part in the development of the Chinese perfume market alongside a China-based company and its local staff,” said Marc Puig, CEO of Puig.

Scent Library was founded in Beijing by Roseline Lou and John Han in 2009. It operates 80 highly experiential stores in China, and sells personal and home fragrances as well as body care products inspired by traditional Chinese medicine, with a modern twist. Thanks to Puig's investment, Scent Library, which in 2017 launched L.B.K. Water, a perfume that sold 400,000 units in one month and 1 million in a year, will boost and optimise its product development capabilities, and develop a global supply chain. 

Compared to the skincare and make-up sectors, the fragrance market in China is still in its infancy, largely driven by Millennials. According to iResearch, China currently accounts for only 2.5% of the global fragrance market. However, the Chinese fragrance market has been growing at an annual average rate of over 25% since 2017. By 2030, China is expected to become the world’s second-largest market for perfumery.

Puig, whose sales fell by 24% in 2020, down to €1.537 billion, owing to the Covid-19 crisis, notably features in its portfolio perfume brands like Jean Paul Gaultier, Penhaligon’s and L’Artisan Parfumeur.

Copyright © 2021 FashionNetwork.com All rights reserved.