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LVMH buys perfume company Officine Universelle Buly 1803

LVMH buys perfume company Officine Universelle Buly 1803

A LVMH luxury group logo is seen prior to the announcement of their 2019 results in Paris, France, January 28, 2020. REUTERS/Christian Hartmann/Files

PARIS: Luxury group LVMH has purchased French perfume and cosmetics company Officine Universelle Buly 1803 with an eye to expanding it abroad, adding to its sprawling empire of high end labels.

The purchase comes four years after the group's initial investment in the perfumer, through its minority investment fund LVMH Luxury Ventures, the group said in a statement.

The historic label was relaunched by Ramdane Touhami and Victoire de Taillac in 2014 and sells perfumes, scented candles and lacquered toothbrushes.

Financial details of the transaction were not provided.

Source: Reuters

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