×
30 629
Fashion Jobs
PVH
Finance Director - Pvh Corp
Permanent · Bridgewater Township
ADIDAS
Training Manager, Visual Excellence
Permanent · Portland
ADIDAS
Business Process Analyst
Permanent · Portland
MACY'S
Asset Protection / Loss Prevention Detective
Permanent · Livingston
L'OREAL GROUP
Manager - Precision Advertising Trader (Programmatic)
Permanent · New York
L'OREAL GROUP
sr Analyst-Finance
Permanent · Berkeley Heights
NORDSTROM INC
Human Resources Business Partner - Technology
Permanent · Seattle
NORDSTROM INC
Loss Prevention Security Ambassador Burbank Center Rack
Permanent · Burbank
NORDSTROM INC
Loss Prevention Security Ambassador Town And Country Rack
Permanent · Phoenix
NORDSTROM INC
Loss Prevention Security Ambassador
Permanent · Nashville
NORDSTROM
Loss Prevention Security Ambassador Columbia
Permanent · Columbia
NORDSTROM INC
Mgr Merch & Inventory es
Permanent · LIVINGSTON
NORDSTROM INC
Merch Financial Planner
Permanent · SEATTLE
NORDSTROM INC
Loss Prevention Agent Park Lane Rack
Permanent · Dallas
NORDSTROM INC
Loss Prevention Security Ambassador Valley Fair
Permanent · San Jose
NORDSTROM INC
Loss Prevention Security Ambassador Valley Fair
Permanent · San Jose
NORDSTROM INC
sr Program Manager, Remote Workforce Strategy
Permanent · Seattle
NORDSTROM INC
Security Ambassador 1
Permanent · Reno
NORDSTROM INC
Security Ambassador- Sawgrass Mills Rack
Permanent · Sunrise
ROSS STORES
Store Protection Specialist
Permanent · Tucson
ROSS STORES
Store Protection Specialist
Permanent · Queen Creek
ROSS STORES
sr Analyst, Business Information
Permanent · New York
Translated by
Nicola Mira
Published
Feb 28, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

BlackRock’s private equity fund buys majority stake in Creed perfumes

Translated by
Nicola Mira
Published
Feb 28, 2020

BlackRock’s Long Term Private Capital private equity fund (LTPC) has acquired a majority stake in Creed, one of Europe's most ancient independent perfume labels. Last summer, LTPC acquired a majority stake in the Authentic Brands group and now, in association with Spanish businessman Javier Ferrán, the fund has become the majority shareholder of Creed.


The Creed store in Las Vegas - Creed


The operation, whose value was not disclosed, took place in agreement with Olivier Creed, the label’s current CEO and a member of the sixth generation of the family that founded the company in London in 1760, before relocating it to France in 1864.

Ferrán, currently the president of Diageo, the group that owns among others whisky brand Johnnie Walker and the Guinness brewery, has been appointed president of Creed. Ferrán is a specialist in running family companies, having been in charge of Bacardi, and has also bought a stake in Creed. He will work alongside Olivier Creed, who will continue in the role of master perfumer. 

“This company has been with my family for over 250 years and it was essential that, when the time came, I was able to choose the best partners for preserving our heritage as a luxury family company, while also helping us to expand worldwide,” said Olivier Creed, whose son Erwin is also working at the company.

According to Women's Wear Daily, Creed's revenue is estimated at $200 million. The label operates two stores in Paris, one in London and four in the USA. It is also available at Nose in Paris, and at department stores Nordstrom and Saks Fifth Avenue in the US, and Harrods in the UK. Creed, whose perfumes are priced approximately between €100 and €300, is the maiden investment made by LTPC in Europe.

The private equity fund was launched in 2019 by BlackRock, a global asset management heavyweight, and immediately carried out its first investment by acquiring a $875 million (€790 million) stake in Authentic Brands Group LLC, owner among others of Volcom and Juicy Couture.
 

Copyright © 2020 FashionNetwork.com All rights reserved.