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Manzanita Capital Buys Byredo Stake

The owner of SpaceNK and Diptyque has purchased a majority stake in the Swedish fragrance house.

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Manzanita Capital, the owner of SpaceNK and Diptyque, has purchased a majority stake in the Swedish fragrance house Byredo. “We expect to provide the resources to Byredo and its founder, Ben Gorham, that will assist Byredo’s international development. Resources will include funding and, as appropriate, expertise from the other nine brand companies which are members of our group,” a Manzanita spokeswoman told WWD Monday.

Byredo was founded by Gorham in 2006 and, according to a retail source, the brand is doing a $2 million business at Barneys New York, and about $1.1 million at Liberty in London. “We are very excited about this partnership and the possibilities that it creates for Byredo,” Gorham told WWD. “Manzanita was a natural choice for us due to their incredible retail experience, proven track record, and long-term commitment to brand building.”

In addition to a standalone store in Stockholm, Byredo is sold at Le Bon Marché, Colette, 10 Corso Como, and Isetan. The line includes body lotions, washes, creams, and scented candles. The multi-tasking Gorham is also the co-creator and fragrance director of the bath and body range for the new retail brand from H&M, & Other Stories. Manzanita, which specializes in high-end, specialized beauty brands purchased SpaceNK in 2002, and Diptyque in 2005. Manzanita’s other brands include Eve Lom, Lipstick Queen, Rococo Nail Apparel, Beautannia, Sai Sei, and Life.

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