Journal · Who owns niche houses

Who owns niche perfume houses?

Most of the best-known niche houses now belong to a handful of groups. As of 5 November 2026, Estée Lauder owns Le Labo, Frédéric Malle, Kilian Paris and Tom Ford. Puig owns Penhaligon’s, L’Artisan Parfumeur and Byredo. L’Oréal owns Creed and Atelier Cologne, LVMH controls Maison Francis Kurkdjian and Shiseido owns Serge Lutens.

Type · Investigation
Reading time · 12 min
Author · Sabrina Carlier
Published · 5 November 2026
Updated · 5 November 2026

The short answer

A niche house that has been bought keeps its name, but it is no longer independent: its capital belongs to the buyer. As of 5 November 2026, the major niche acquisitions are concentrated in five beauty groups and a few funds, such as Manzanita Capital and Advent International.

The Estée Lauder Companies owns Le Labo (2014), Frédéric Malle (2015), Kilian Paris (2016) and Tom Ford (2023). Puig owns Penhaligon’s and L’Artisan Parfumeur (2015), then Byredo (2022, fully owned since 2024).

L’Oréal owns Atelier Cologne (2016) and, since 31 March 2026, Creed. LVMH has held a majority of Maison Francis Kurkdjian since 2017. Shiseido has owned Serge Lutens since 2015.

Prices are rarely disclosed. Estée Lauder valued Tom Ford at $2.8 billion in November 2022. The deal that moved Creed from Kering to L’Oréal is valued at €4 billion, including fifty-year licences.

Of the 89 houses in our table, 28 belong to a group, 6 have investment funds in their capital and 6 have a private owner. Comme des Garçons Parfums depends on a parent fashion house. 48 are independent, 5 of them with minority investors.

The ownership table

Owners as of 5 November 2026, from our house pages and the groups’ own announcements. One row per house that has an Osmetheca page and whose owner is established by a source.

Licensed houses are listed under the owner of the brand. The group that makes the fragrances is named alongside.

HouseFoundedOwnerYear acquiredStake heldStatus
Acqua di Parma1916, Parma (Italy)LVMH2001 (50%), 2003 (full)100%Owned by a group
Aedes de Venustas1995, New York (United States)No groupNot applicableNot applicableIndependent
Amouage1983, Muscat (Oman)SABCO (Oman), majority; L’Oréal, minority2025 (L’Oréal)L’Oréal minority, amount not disclosedOwned by a group
Anatole Lebreton2014, Provence (France)No groupNot applicableNot applicableIndependent
Areej Le Doré2017, United KingdomNo groupNot applicableNot applicableIndependent
L’Artisan Parfumeur1976, Paris (France)Puig2015Not disclosedOwned by a group
Atelier Cologne2009, Paris (France)L’Oréal2016Not disclosedOwned by a group
BDK Parfums2016, Paris (France)David Benedek, founder; LVMH Luxury Ventures, minority2025 (LVMH Luxury Ventures)MinorityIndependent, outside investors
Bond No. 92003, New York (United States)Laurice Rahmé, founderNot applicableNot applicableIndependent
Bortnikoff2018, ThailandNo groupNot applicableNot applicableIndependent
Byredo2006, Stockholm (Sweden)Puig2022 (majority), 2024 (full)100%Owned by a group
Caron1904, Paris (France)Cattleya Finance (Benjamin and Ariane de Rothschild)2018Not disclosedPrivate owner
Celine1945, Paris (France)LVMH1996100%Owned by a group
Chanel1910, Paris (France)Alain and Gérard Wertheimer, through Chanel LimitedNot applicable100%Independent
Christian Dior1946, Paris (France)LVMHNot statedNot statedOwned by a group
Comme des Garçons Parfums1993, Paris (France)Comme des Garçons (Tokyo); fragrances licensed to Puig since 2002Not applicableNot applicableParent house, fragrances under licence
Coty1904, Paris (France)Coty Inc., listed; JAB Holding, controlling shareholderNot applicableControl (JAB Holding)Owned by a group
Creed1760 (claimed), London (United Kingdom)L’Oréal2026100%Owned by a group
D.S. & DurgaBrooklyn, New York (United States)Manzanita Capital, majority; Monogram Capital, minority2024MajorityInvestment funds in the capital
Diptyque1961, Paris (France)Manzanita Capital2005Not disclosedInvestment funds in the capital
Dries Van Noten1986 (fashion), 2022 (fragrance), Antwerp (Belgium)Puig2018MajorityOwned by a group
Eau d’Italie2004, Positano (Italy)No groupNot applicableNot applicableIndependent
Editions de Parfums Frédéric Malle2000, Paris (France)The Estée Lauder Companies2015Not disclosedOwned by a group
Ensar Oud2004, New York (United States)Ensar, founderNot applicableNot applicableIndependent
L’Entropiste2025, Paris (France)Founders, self-funded houseNot applicableNot applicableIndependent
Escentric Molecules2006, London (United Kingdom)No groupNot applicableNot applicableIndependent
État Libre d’Orange2006, Paris (France)Étienne de Swardt, founderNot applicableNot applicableIndependent
Ex Nihilo2013, Paris (France)The three founders, with L Catterton2026 (L Catterton)Not disclosedInvestment funds in the capital
Filippo Sorcinelli2014, Mondolfo (Italy)No groupNot applicableNot applicableIndependent
Fragonard1926, Grasse (France)Costa familyNot applicableNot applicableIndependent
Galimard1747, Grasse (France)Roux family, since 1950Not applicableNot applicableIndependent
Giorgio Armani1975, Milan (Italy)Independent house; fragrances licensed to L’Oréal since 1988Not applicableNot applicableIndependent
Goldfield & Banks2016, Sydney (Australia)Dimitri Weber, founderNot applicableNot applicableIndependent
Goutal (Annick Goutal)1981, Paris (France)Interparfums SA2025Worldwide intellectual propertyOwned by a group
Gucci1921, Florence (Italy)Kering; fragrances licensed to Coty, then to L’Oréal from 1 July 20271999 (entry), 2004Almost allOwned by a group
Guerlain1828, Paris (France)LVMH1994 (58.9%), 1996 (balance)100%Owned by a group
Henry Jacques1975, Draguignan (France)Founding familyNot applicableNot applicableIndependent
Hermès1837, Paris (France)Hermès International, listed, family controlledNot applicableAbout two thirds (Hermès family)Independent
Hiram Green2013, Gouda (Netherlands)No groupNot applicableNot applicableIndependent
Houbigant1775, Paris (France)Perris family2005Not disclosedPrivate owner
Imaginary Authors2012, Portland (United States)Its foundersNot applicableNot applicableIndependent
Initio Parfums Privés2015, Paris (France)Artessence Group, controlled by Advent International2023MajorityInvestment funds in the capital
Jacques Fath1937, Paris (France)Panouge group2008Not disclosedOwned by a group
Jean Patou1914, Paris (France)Nirvana Investments, Dilesh Mehta’s holding company2026All of LVMH’s stake (70%)Private owner
Jeroboam2015, Paris (France)François Hénin, founderNot applicableNot applicableIndependent
Jovoy1923, Paris (France)François HéninNot applicableNot applicableIndependent
Juliette Has a Gun2006, Paris (France)Founders, with Cathay Capital and Weinberg Capital Partners2021, 2023Not disclosedInvestment funds in the capital
Kilian Paris (By Kilian)2007, Paris (France)The Estée Lauder Companies2016Not disclosedOwned by a group
Lalique1888, Paris (France)Lalique Group (Silvio Denz)2008Not disclosedOwned by a group
Le Labo2006, New York (United States)The Estée Lauder Companies2014Not disclosedOwned by a group
Louis Vuitton1854, Paris (France)LVMHNot statedNot statedOwned by a group
Lubin1798, Paris (France)Gilles Thévenin2000sNot disclosedPrivate owner
Maison Crivelli2018, Paris (France)Thibaud Crivelli, founder; stake held by Extravaganza BeautyNot statedStake, amount not disclosedIndependent, outside investors
Maison Francis Kurkdjian2009, Paris (France)LVMH2017MajorityOwned by a group
Maison Margiela1988, Paris (France)OTB; fragrances licensed to L’Oréal since 20082002Not statedOwned by a group
Marc-Antoine Barrois2009, Paris (France)No groupNot applicableNot applicableIndependent
Maria Candida Gentile2010, Sarzana (Italy)Maria Candida Gentile, founderNot applicableNot applicableIndependent
Matière Première2019, Grasse (France)Founders, majority; Kering Beauté, minority2024 (Kering Beauté)MinorityIndependent, outside investors
Maître Parfumeur et Gantier1988, Paris (France)Fahad Al Turki2013Not disclosedPrivate owner
Memo Paris2007, Paris (France)Founders, through Memo InternationalNot applicableNot applicableIndependent
Mizensir1999, Geneva (Switzerland)Founding familyNot applicableNot applicableIndependent
Molinard1849, Grasse (France)Founding familyNot applicableNot applicableIndependent
Mona di Orio2004, Amsterdam (Netherlands)No groupNot applicableNot applicableIndependent
Montale2003, Paris (France)No groupNot applicableNot applicableIndependent
Naomi Goodsir2012, Côte d’Azur (France)No groupNot applicableNot applicableIndependent
Nasomatto2007, Amsterdam (Netherlands)Alessandro Gualtieri, founderNot applicableNot applicableIndependent
Nishane2012, Istanbul (Turkey)Founders; Atlas Büyüme Sermayesi fund (Maxis Girişim) and Mada2025Not disclosedIndependent, outside investors
Ormonde Jayne2001, London (United Kingdom)Linda Pilkington, founderNot applicableNot applicableIndependent
Orto Parisi2014Alessandro Gualtieri, founderNot applicableNot applicableIndependent
Papillon Artisan Perfumes2011, New Forest (United Kingdom)No groupNot applicableNot applicableIndependent
Parfum d’Empire2003, Paris (France)No group or investorNot applicableNot applicableIndependent
Parfums de Marly2009, Paris (France)Artessence Group, controlled by Advent International2023MajorityInvestment funds in the capital
Parfums de Nicolaï1989, Paris (France)Founding familyNot applicableNot applicableIndependent
Pekji2018, Istanbul (Turkey)No groupNot applicableNot applicableIndependent
Penhaligon’s1870, London (United Kingdom)Puig2015Not disclosedOwned by a group
Pierre Guillaume Paris2005, Clermont-Ferrand (France)Pierre Guillaume, founderNot applicableNot applicableIndependent
Pineward Perfumes2020, Colorado (United States)No groupNot applicableNot applicableIndependent
Profumum Roma1996, Rome (Italy)Durante familyNot applicableNot applicableIndependent
Robert Piguet1933, Paris (France)Fashion Fragrances & Cosmetics (United States)1990sNot disclosedPrivate owner
Rochas1925, Paris (France)Interparfums2015Brand, fragrance and fashionOwned by a group
ROJA London2011, London (United Kingdom)Extravaganza Beauty2026Not disclosedOwned by a group
Serge Lutens2000, Paris (France)Shiseido2015 (agreement), 2016 (closing)100% of the trademarkOwned by a group
SlumberhousePortland (United States)No groupNot applicableNot applicableIndependent
Tauer Perfumes2005, Zurich (Switzerland)No group, no known outside investorNot applicableNot applicableIndependent
Tom Ford2005, New York (United States)The Estée Lauder Companies2023100%Owned by a group
Viktor&Rolf1993, Amsterdam (Netherlands)OTB (fashion); fragrances licensed to L’Oréal2026 (100% OTB)100% (fashion)Owned by a group
Xerjoff2007, Turin (Italy)Sergio Momo, founder; Andrea Tessitore, minority2018 (Andrea Tessitore)MinorityIndependent, outside investors
Yves Saint Laurent1961, Paris (France)Kering (brand); fragrances licensed to L’Oréal since 20081999Not statedOwned by a group
Zoologist2013, Toronto (Canada)No groupNot applicableNot applicableIndependent

The groups, house by house

The Estée Lauder Companies

The American group closed its purchase of Le Labo on 3 November 2014, for an undisclosed sum. It closed the purchase of Editions de Parfums Frédéric Malle on 9 January 2015, after a deal announced on 7 November 2014.

It announced the acquisition of Kilian Paris on 25 February 2016, without disclosing the terms. In November 2022 it announced the purchase of Tom Ford, in a deal that valued the whole brand at $2.8 billion.

The deal closed on 28 April 2023, making Estée Lauder the sole owner of the Tom Ford brand and its intellectual property.

On 23 March 2026, Estée Lauder and Puig confirmed talks about a possible combination. The two groups ended those talks in May 2026 without a deal.

Puig

The Spanish group, based in Barcelona (Spain), bought Penhaligon’s and L’Artisan Parfumeur from Fox Paine & Company in January 2015.

It took a majority stake in Byredo on 31 May 2022, buying from Manzanita Capital. It has owned 100% since 2024, and the price was never disclosed.

Puig has also been the majority shareholder of Dries Van Noten since 2018. It has made the Comme des Garçons fragrances under licence since 2002.

L’Oréal

L’Oréal signed the agreement to buy Atelier Cologne in June 2016. In February 2025 it took a long-term minority stake in Amouage, whose majority shareholder remains the Omani group SABCO.

On 19 October 2025, Kering and L’Oréal announced a deal valued at €4 billion, payable in cash. It covers the sale of Kering Beauté, Creed included, and fifty-year licences on several Kering houses.

L’Oréal closed the deal on 31 March 2026, and Creed joined its L’Oréal Luxe division.

The group also makes licensed fragrances: Yves Saint Laurent since 2008, Maison Margiela since 2008 and Giorgio Armani since 1988, a licence renewed until 2050.

In 2008, L’Oréal bought the Yves Saint Laurent beauty business for €1.15 billion. It takes over the Gucci licence on 1 July 2027, for fifty years.

LVMH

In 1994 the Guerlain family sold 58.9% of Guerlain to LVMH, through Christian Dior, and the balance in 1996. Celine came under the group’s control in 1996.

LVMH bought 50% of Acqua di Parma in 2001 and the rest in 2003. Parfums Christian Dior and Louis Vuitton also belong to the group.

On 20 March 2017, LVMH announced a majority stake in Maison Francis Kurkdjian, for an undisclosed sum. Francis Kurkdjian and Marc Chaya remained shareholders.

In late November 2025, the LVMH Luxury Ventures fund took a minority stake in BDK Parfums, for an undisclosed amount.

LVMH had held 70% of Patou since 2018. On 31 July 2026 it sold its entire stake to Nirvana Investments, Dilesh Mehta’s holding company, for an undisclosed sum.

Kering

Kering, then called PPR, bought into Gucci in 1999 and held almost all of it by 2004. The group still owns the Yves Saint Laurent brand.

In 2023, Kering Beauté bought Creed from BlackRock and Javier Ferrán, for a price reported in the press at €3.5 billion. The deal closed on 17 October 2023.

In June 2024, Kering Beauté took a minority stake in Matière Première. Kering Beauté passed to L’Oréal on 31 March 2026.

Interparfums

Interparfums bought the Rochas brand from Procter & Gamble in 2015, covering fragrance and fashion.

In March 2025, Interparfums SA bought the worldwide intellectual property rights to Goutal from Amorepacific Europe. The price was not disclosed.

The group had bought the Parfums Jean Desprez company in 1994 for $3.7 million. The current owner of the Jean Desprez brands is not established.

Shiseido

Shiseido signed a memorandum of understanding on 13 March 2015 to buy the Serge Lutens trademark, then the purchase agreement on 22 December 2015. The deal closed in early 2016, for an undisclosed sum.

Investment funds

Manzanita Capital, a British fund, has owned Diptyque since 2005. It was the majority owner of Byredo from 2013 to 2022 and has held a majority of D.S. & Durga since January 2024.

Advent International has held a majority of Artessence Group since 2023, the company behind Parfums de Marly and Initio Parfums Privés. Their founder, Julien Sprecher, remains a minority shareholder.

Eurazeo completed the sale of its stake in Ex Nihilo to L Catterton on 20 February 2026. Cathay Capital and Weinberg Capital Partners have been shareholders of Juliette Has a Gun since 2021 and 2023.

Cattleya Finance, the holding company of Benjamin and Ariane de Rothschild, bought Caron in 2018.

Other owners

The Italian group OTB has owned Maison Margiela since 2002 and all of Viktor&Rolf since June 2026. Both houses’ fragrances are made under licence by L’Oréal.

Extravaganza Beauty, a Middle East group, announced the purchase of ROJA London on 18 September 2026. It also holds a stake in Maison Crivelli.

Lalique Group has owned Lalique since 2008. The Panouge group has owned Jacques Fath since 2008. Fashion Fragrances & Cosmetics has relaunched Robert Piguet since 1996.

Coty, listed in New York and Paris, has JAB Holding as its controlling shareholder. It is handing the Gucci licence to L’Oréal, which takes over on 1 July 2027, and receives about $400 million for the early exit.

The major houses that remain independent

Several major houses belong to no group as of 5 November 2026. Each one says so itself, or a dated source does, listed at the foot of this page.

Chanel is wholly owned by Alain and Gérard Wertheimer, through the holding company Chanel Limited. The Hermès family keeps about two thirds of Hermès International, which is listed in Paris.

Giorgio Armani remains an independent house, with its fragrances licensed to L’Oréal. Its founder’s will provides for the sale of a first 15% stake.

Among niche houses, État Libre d’Orange has been owned and run by Étienne de Swardt since 2006. Ormonde Jayne belongs to Linda Pilkington, while Nasomatto and Orto Parisi belong to Alessandro Gualtieri.

Memo Paris is still owned by its founders through Memo International. Bond No. 9 belongs to Laurice Rahmé. Parfum d’Empire, Tauer Perfumes and Papillon Artisan Perfumes have no group and no known outside investor.

Family houses remain numerous: Fragonard (the Costa family), Galimard (the Roux family), Molinard, Mizensir, Parfums de Nicolaï and Profumum Roma.

Others remain independent while opening their capital to minority investors: BDK Parfums (LVMH Luxury Ventures, 2025), Nishane (2025), Xerjoff (2018), Maison Crivelli and Matière Première.

Does an acquisition change a perfume?

The facts published after a takeover concern creative direction, names, catalogues and distribution. Here are the ones that are dated and sourced.

Founders who stay

Kilian Hennessy remains founder and creative director of Kilian Paris under Estée Lauder. Francis Kurkdjian and Marc Chaya stayed on as shareholders and in their roles at Maison Francis Kurkdjian after 2017.

David Seth Moltz and Kavi Moltz kept creative control of D.S. & Durga after Manzanita Capital came in. Julien Sprecher remained creative director of Parfums de Marly and Initio after 2023.

Founders who leave

Frédéric Malle left the house that bears his name in April 2024, nine years after the Estée Lauder purchase. Ben Gorham left Byredo in June 2025, after Puig took full control.

Roja Dove became a consultant to ROJA London when Extravaganza Beauty bought it in 2026.

Perfumer, name and catalogue

After its 2018 sale, Caron redesigned its bottles, refocused its catalogue on its historic pillars and appointed Jean Jacques as perfumer.

Under Amorepacific, Annick Goutal became Goutal Paris in 2018. In 2026, Interparfums relaunched Goutal with a return to its founder’s vision.

In 2018, under LVMH, the name Joy passed to a Dior fragrance. Whether the Jean Patou fragrances are still on sale is not established.

Distribution

Atelier Cologne withdrew from North America in 2022 and refocused on Asia, six years after L’Oréal bought it.

The LVMH Luxury Ventures investment in BDK Parfums is meant to fund international growth, new boutiques and a wider range.

The chief executive of Amouage said L’Oréal’s investment had no impact on the house’s operations.

Frequently asked questions

Does a niche house stay independent after an acquisition?

Not in terms of ownership: it becomes a brand of the buying group. Some founders stay in charge of creation, such as Kilian Hennessy at Estée Lauder. Others leave, such as Frédéric Malle in 2024 and Ben Gorham in 2025.

Which groups own the most niche houses?

Estée Lauder owns Le Labo, Frédéric Malle and Kilian Paris, plus Tom Ford since 2023. Puig owns Penhaligon’s, L’Artisan Parfumeur and Byredo. LVMH owns Guerlain and Acqua di Parma and holds a majority of Maison Francis Kurkdjian.

Who owns Creed today?

L’Oréal has owned Creed since 31 March 2026, when it completed the purchase of Kering Beauté. Kering had bought Creed in 2023, for a reported €3.5 billion.

Who owns Diptyque?

The British fund Manzanita Capital has owned Diptyque since 2005. The same fund has held a majority of D.S. & Durga since January 2024.

Which major niche houses are still independent?

État Libre d’Orange, Ormonde Jayne, Nasomatto, Memo Paris, Bond No. 9, Parfum d’Empire, Tauer Perfumes and Parfums de Nicolaï belong to no group. BDK Parfums, Nishane and Xerjoff have opened their capital to minority investors.

Will Estée Lauder and Puig merge?

No. The two groups confirmed talks on 23 March 2026, then ended them in May 2026 without a deal.

See also

Sources

Published on 5 November 2026 · Updated on 5 November 2026 · Author: Sabrina Carlier · Osmetheca.