Home fragrance company DL & Co. has doubled the number of brands in its portfolio with the acquisitions of candle specialists Burn and Lisa Carrier Designs.
DL & Co. purchased Burn from Studio BeautyMix, and Lisa Carrier Designs from its namesake founder. Carrier is remaining with the company, while Burn creator Robin Coe-Hutshing will no longer be involved with the brand.
Jan Rosen, majority owner of Los Angeles-based DL & Co., would not divulge the purchase prices, but said the deals are structured around future payouts of undisclosed percentages of annual profits. “I always look for an acquisition if it makes sense,” he said. “These were very opportunistic because there was no real debt.”
Burn gives DL & Co. a foothold in apothecary departments that its existing brands — DL & Co. and Modern Alchemy — didn’t have. Lisa Carrier’s heavily embellished candles, which are decorated with Swarovski crystals and can stand three feet tall, are aimed at the highest end of the interior fragrance market.
Rosen said DL & Co. plans to invest at least $500,000 to update the packaging and assortment of each brand. Burn’s fragrance lineup will be reduced from roughly 50 to five of its best-selling scents, and body lotions, hand creams, soaps and diffusers will be introduced for spring. The price of Burn’s candles is declining from around $60 to between $45 and $50, and Lisa Carrier will be priced at $100 to $125.
Later this year, Rosen estimates that Burn will be in approximately 250 doors, and Bloomingdale’s has already nabbed exclusive items from the brand. Lisa Carrier is expected to be in 150 to 200 doors, including Neiman Marcus, Selfridges, Harvey Nichols, Harrods and Liberty.
DL & Co., which is priced from $35 to $500, is in around 200 doors, and Modern Alchemy is in around 200 mostly specialty store accounts with items priced from $20 to $50. Rosen is searching for real estate in Los Angeles for a DL & Co. store that could open as early as the fall of next year, followed by stores in London and Tokyo.
Between the four brands, Rosen forecasts $5 million in sales this year. “For a little over two years, I told all my people and my retailers that I wanted to keep my head above water. We were hoping that my customers would stay in business,” he said. “They are coming back. We stayed with them, and I had a 55 percent increase with Neiman’s last year.”
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