Ben Gorham’s luxury brand Byredo appears to be evaluating its deal options, according to industry sources.
Byredo is said to have hired Goldman Sachs to consider a deal, the sources said, noting that the brand has more than $100 million in sales. Byredo and Goldman Sachs did not respond to requests for comment. Manzanita, the family office that has owned a stake in the business since 2013, declined to comment.
Gorham founded Byredo in 2006 and has since taken the line into multiple categories, including fragrance, makeup and accessories. Byredo’s perfumes and candles have garnered a cult following over the years, and the business branched further into beauty with a makeup line it developed in collaboration with artist Isamaya Ffrench in 2020. Over the years Gorham has lined up successful collaborations with everyone from Travis Scott to Virgil Abloh.
Byredo is backed by family office Manzanita, which has been open to selling off beauty assets recently, sources said. The office has been looking for a potential buyer for beauty retailer SpaceNK for years, and sold Eve Lom to Yatsen, and Lipstick Queen to Morphe parent company, Forma Brands.
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Byredo is considered the jewel in the Manzanita portfolio by the beauty industry. Manzanita also backs fragrance line Diptyque, as well as skin care and fragrance business Malin + Goetz, and skin care business Susanne Kaufmann.
Many beauty companies — especially those that have seen success during the COVID-19 pandemic — have hired bankers to test the waters, and see what their potential valuations might be. But not all of those hires materialize as investments or sales, sources have noted.
In addition to Byredo, Goldman is said to be working with clean makeup brand Ilia Beauty and SPF beauty brand Supergoop to evaluate deal options, sources said.
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