Estée Lauder invests in fragrance brand Vyrao
Estée Lauder is expanding its portfolio of brands. After the acquisition of Tom Ford at the end of 2022, the American cosmetics group, owner of M.A.C, Clinique and La Mer, has just acquired a stake in the British fragrance brand Vyrao. This transaction, the amount of which was not disclosed, was made through New Incubation Ventures, the investment vehicle of the Estée Lauder group, which has notably also taken a stake in the British skincare brand Haeckels.
Available at Nose in Paris, Vyrao was founded in 2021 by Yasmin Sewell. The fashion specialist co-founded the brand Etre Cecile and was vice-president, in charge of editorial and the creative teams for the Farfetch website.
Each of Vyroa's fragrances is infused with a Herkimer diamond crystal and is said to increase energy.
The brand, which made its debut at Selfridges, is also present at Saks Fifth Avenue, Liberty London, Browns and Mecca in Australia. The aim of the fundraising is to support Vyrao's marketing and advertising, and to strengthen its distribution in the US, Australia and Japan, as reported by Cosmetics Business magazine.
In the second quarter of its 2022/23 financial year, ending December 31, the American cosmetics group Estée Lauder reported a turnover of 4.62 billion dollars (4.22 billion euros), down 17% compared to the same period last year.
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