Kering Beauté takes minority stake in Matière Première to aid in global expansions

06 Jun 2024 --- Kering Beauté has closed a second funding round of Matière Première, gaining a minority stake in the French fragrance brand. 

The undisclosed amount will expand Kering Beauté’s international scope, opening 20 stores across the UK, US, France, Germany, the Middle East and China. In the UK, the brand offers its portfolio of 12 fragrances at Harrods, including one exclusive to the retailer. 

It is reported that the money will go toward e-commerce practices, with a new version of Matière Première’s website due to launch this year.

“We will also strengthen our online presence through our e-commerce website, which we are refining to offer an exclusive and personalized user experience,” says Caius von Knorring, co-founder and president of Matière Première.

Furthering fragrances
Matière Première was founded in 2019 by Von Knorring, perfumer Aurélien Guichard and general manager Cédric Meiffret, who remain majority shareholders.

Guichard, who manufactures scents for Matière Première is “the only” perfumer who grows his own ingredients. The niche perfume brand creates fragrances, including Parisian Musc, featuring the scent of Peruvian ambrette seed, and Vanilla Powder, made from Madagascan vanilla absolute.

Several ingredients, including rose centifolia and tuberose, are sourced from Guichard’s farm in Grasse, France.

The brand also stocks hair perfumes as well as hand and body creams with the same notes as its fragrance line.

“We are entering a new phase of our development,” von Knorring told WWD. “Matière Première has been growing extremely fast.”

Kering expansion
Last year, the parent of fashion brands Gucci, Saint Laurent and Bottega Veneta, Kering Beauté fully acquired luxury perfume house Creed. 

At the time, Kering Beauté said it was taking a strategic step in the fast-growing high-end luxury fragrance segment, creating a “sizable platform for future growth.” Notable brands under Creed include Balenciaga, Alexander McQueen, Puma and MontBlanc.

Following the expansion earlier this year, Kering announced it would set up shop on New York City’s iconic Fifth Avenue after purchasing about 115,000 sq ft of “multi-level luxury retail space” for US$963 million. The property, located at 715 – 717 Fifth Ave, is across from the Trump Tower in Manhattan.

By Sabine Waldeck