French Occitane buys perfumes Dr. Vranjes


Bluegempan-European private equity fund specializing in consumer goods, announced the sale of a luxury brand of home fragrances, Dr. Vranjes Florence, the French multinational company L’Occitane, a chain of cosmetic products. Neither the price nor the financial details of the transaction were disclosed, but the change of ownership represents a significant milestone in the development of the Florentine brand, founded in 1983.

A story about value creation

After acquiring a majority stake in the company in 2017, Bluegem has overseen its evolution from a predominantly domestic brand to a global one, becoming a globally recognized name. Under the management of the fund Dr. Vranjes more than tripled sales, nad 42 million euros in 2023with revenue margins exceeding 30%.

Over the past six years, the result has been a significant increase in profitability internet saleswhich are today 25% of the total turnover. The brand’s expansion into new geographic markets, particularly in the Middle East and Asia, along with the introduction of new innovative product lines such as personal perfumes and scented candles, ultimately led to expansion.


The brand has a network of 28 monobrand stores and 650 points of sale. Emilio Di Spiezio Sardo, founder of Bluegem, commented: ¬ęThe success story of Dr. Vranjese aligns with our strategic vision that cultivates companies with stable consumer demand, driven by premium yet affordable products and recurring consumption that ensures business resilience through macroeconomic cycles. We express our deepest thanks Paolo Vranjesfor his visionary leadership, innovative spirit and invaluable partnership.”

The signature is expected by the end of the first quarter of 2024. Vendors assisted Rothschild & Co, BPER, Deloitte, New Deal advisers, Latham & Watkins, Studio Galgano, DLA Piper, Gattai Minoli and ERM. He helped the buyer Heritage, Skadden AND Lempriere Wells.


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