Interparfums acquires 25% stake in e-commerce platform Origines-Parfums
Jul 2, 2020
Fragrance house Interparfums announced on Wednesday that via its majority owned subsidiary, Interparfums SA (IPSA), it has entered into an agreement with Divabox to acquire 25 percent of its ecommerce platform Origines-Parfums.
The partnership will allow Interparfums to introduce dedicated fragrance lines and products designed to address a specific consumer demand on the Origines-Parfum’s platform.
Likewise, Divabox will benefit from resources it needs to strengthen its existing organization and raise its online visibility to support its development in France and in Europe.
“With online sales for perfumes and cosmetics growing every year, a trend that has been accelerated by the health crisis, IPSA has been on the lookout for an opportunity to integrate an e-retail dimension since 2019. This partnership fits perfectly with this strategy,” explained Jean Madar, chairman and CEO of Interparfums, in a news statement.
Jean Philippe de Peretti, chairman and CEO of Divabox, added: “Our goal is to exceed the milestone of €100 million in sales and become a European e-commerce leader for perfumes and cosmetics. This partnership with IPSA provide us with substantial operational and financial resources to maintain the pace of our strong growth.”
Origines-Parfums, a key French player in the online beauty market, has a customer base of more than 1 million people and revenue in 2019 of €40 million.
Interparfums announced a 46.8 percent decline in Q1 net income in May, as a result of the Covid-19 crisis, which was felt most intensely in Middle Eastern and Asian markets.
In light of the pandemic, the International fragrance maker has postponed the launch of a number of major programs and campaigns until 2021, including projects for Kate Spade New York, Jimmy Choo, Anna Sui and Guess.
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