Alès Groupe enters exclusive negotiations with Cattleya for Caron
As FashionNetwork.com revealed last July, Caron has paved the way for a possible sale and the deal is almost done now. Alès Groupe, its owner since 1998, has announced that it has entered into exclusive negotiations with Cattleya Finances S.A, the investment company of Benjamin and Ariane de Rothschild, for the sale of the perfume house.
The transaction is part of a restructuring plan for Alès Groupe, which wants to reinvigorate its growth by refocusing on its cosmetics and hair brands such as Lierac and Phyto. The purchase amount has not yet been disclosed.
Founded in 1904, Caron is considered one of the oldest French perfume houses with iconic signature fragrances like "Black Narcissus", created in 1911, and its men’s fragrance, "Pour un homme", launched in 1934.
Still, Caron's sales have decreased from 10 million euros in 2013 to some 8 million in 2018, representing just 3 to 4 percent of Alès Groupe's sales. The decline however, has not seemed to discourage the Rothschild family's holding company, which intends to support the brand’s development both in France and internationally, relying in particular on "its authentic heritage of high perfumery in France."
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