Perfumes y Diseño sells Delpozo to undisclosed buyer
today Sep 24, 2019
Spanish group Perfumes y Diseño has sold a majority stake in its luxury designer label Delpozo. The sale, expected to complete later this week, will see the group focus on its “selective fragrance business” and team up with an “industrial partner who can maintain the strategic plan of the fashion company”.
As part of the agreement, Perfumes y Diseño will stop being the majority owner of the Delpozo brand, which was acquired in full in 2011. According to a spokesperson, the specific terms of the deal are still under negotiation, but Perfumes y Diseño is expected to retain a minority stake of around 15%. The name of Delpozo’s new owner will remain under wraps for about 15 more days, but the group revealed it is a “large international fashion group”.
Earlier this month, FashionNetwork.com exclusively reported that Delpozo was withdrawing from London Fashion Week this season. The decision once again delayed Lutz Huelle’s debut as the brand’s new creative director following Josep Font’s departure in December. In the summer, the group chaired by Pedro Trólez announced it was searching for a buyer to take over a majority or minority stake in the business, after acquiring it in full in 2011 to undertake a relaunch.
The sale of the iconic Spanish fashion house founded by designer Jesús del Pozo in 1974 will not come as a surprise to many given the turbulent events that have been unfolding at the company in recent months. In addition to appointing Italy’s Massimo Bonini to take over the distribution of the accessories range, the brand signed an agreement with the Riccardo Grassi showroom for the management of its wholesale business. Additionally, part of the brand’s production has been relocated to Italy and the firm cut about 20 jobs at its headquarters in Spain through a redundancy procedure at the beginning of the year.
According to its latest available accounts, sales at Delpozo increased 6.4% in 2015. The upmarket design label is hoping to generate more than 10 million in sales this year.
Perfumes y Diseño owned the perfume license of Jesús del Pozo’s brand before buying the business with the aim of staging an international relaunch following the designer’s death. But the perfumery business continues to be the biggest revenue driver for the group, which is why it plans to dedicate itself exclusively to it now.
Its portfolio of exclusive brands includes Tous Perfumes, El Ganso Perfumes, Desigual Perfumes, Starck Paris, Halloween Perfumes and the newly acquired Seville Scalpers. Additionally, the group is the exclusive fragrance distributor in Spain for Goutal Paris, Salvatore Ferragamo and Juliette Has a Gun, as well as Ahava and REN.
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