Byredo founder Ben Gorham's exit marks a familiar pattern in beauty M&A
Ben Gorham, the founder and creative force behind Swedish fragrance label Byredo, is stepping away from the brand nearly two decades after its inception and three years after selling a majority stake to Spanish conglomerate Puig, reported Cosmetics Business.
Founded in 2006, Byredo evolved from a niche fragrance label into a full-fledged lifestyle brand spanning beauty, fashion, and homeware. Known for its minimalist packaging and distinctive scent names, the brand attracted Puig, which acquired a majority stake in 2022 at a reported 1bn euro valuation. Gorham stayed on as Chief Creative Officer under a transitional agreement that ended this June.
The move reflects a growing trend: creative founders departing once their brands are absorbed by global players. While Puig has emphasised its commitment to preserving brand DNA, as seen in its stewardship of Charlotte Tilbury and Dries Van Noten, founder exits inevitably shift a brand's creative direction toward commercial scale.
Analysts note that Gorham's exit follows a familiar post-acquisition cadence. Conglomerate ownership offers growth infrastructure but can also dilute founder-led vision. As valuations peak, we often see founders stepping aside, signalling the end of the artisanal phase and the beginning of corporate brand building.
Puig's Chairman and CEO Marc Puig praised Gorham's role in establishing Byredo's distinctive identity, vowing to uphold the brand's ethos while unlocking further growth. However, as Puig consolidates its portfolio with an eye toward eventual IPO readiness, questions remain about how much of Byredo's avant-garde edge will remain intact.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South Wales Argus
4 hours ago
- South Wales Argus
Climate change and the investments into reversing it
Those capitalist corporations that he says won't invest in renewables because of a lack of profit are far outnumbered by those that will. Hence wind-turbine constructions, solar panels, heat pumps plus electric arc furnaces at Port Talbot steel works, the list goes on; and most of them with government grants (ie, taxpayers money). I have never denied climate change, it is always changing, it's called a state of flux, but whatever we do in this country won`t make a scrap of difference to our planet's pollution because even the climate change fanatical BBC acknowledges that the whole of Britain contributes barely one percent to the same. I see that our eco-zealot energy minister Ed Miliband has relaxed the rules about further drilling for oil and gas in the North Sea, so maybe Lyndon Morgans should find another idol to worship. How about that Swedish globe-trotter Greta Thunderbox or whatever her name is? Yours sincerely, A. Greenhalgh, Newport,
Leader Live
4 hours ago
- Leader Live
Spain's leader sticks by decision to break with Nato on defence spending
On Thursday, the progressive Spanish leader stuck by his decision to break with Nato allies and responded to Mr Trump's comments by pointing out that the European Commission — and not Spain — was who decided the bloc's trade policy. 'What is clear is that trade policy is a policy directed from here, from Brussels,' Mr Sanchez said. 'Spain is an open country. It is a country that is friendly to its friends, and we consider the United States a friend of Spain.' At the military alliance's summit on Wednesday, members agreed to raise their defence spending to 5% of GDP. But Mr Sanchez secured a last-minute exemption, saying that Spain will only spend up to 2.1%, which he called 'sufficient and realistic'. Mr Trump criticised the country after the summit, saying Spain wanted 'a little bit of a free ride,' and that it would 'have to pay it back to us on trade' through higher tariffs. How Mr Sanchez's gamble could play out was up for debate on Thursday. 'It is not always easy to interpret exactly what Mr Trump means,' Belgian Prime Minister Bart De Wever told reporters at an EU summit. 'How he wants to impose import tariffs on Spain separately is a mystery to everyone. Could this perhaps concern specific products from Spain? We will have to wait and see.' Spain's move on the international stage comes at a complex moment for Mr Sanchez at home as corruption cases involving his inner circle have ensnared his Socialist party and resulted in louder calls — even from some left-wing allies — to announce early elections. So far, Mr Sanchez has refused. 'To Trump's theatre, Mr Sanchez responds with something similar,' said Montserrat Nebrera, political analyst and professor of constitutional law at the International University of Catalonia. 'Domestic problems are piling up, and this resistance to meeting the arbitrary 5% target also seeks to wink at his partners most critical of defence spending.' Spain was Nato's lowest spender last year, according to the alliance's estimates, spending around 1.28% of its GDP on defence expenditure. In April, Mr Sanchez announced that the country would reach 2% this year, for which he was criticised by some left-wing allies. On Thursday, Antonio Garamendi, president of the Spanish Confederation of Business Organisations, criticised Mr Sanchez for the spending opt-out. 'We have to stick with our allies and not going along with the other Europeans is an error, and even more so if that increases the chance we will be punished,' Mr Garamendi said. While Spain is under the umbrella of the European Union, which negotiates trade deals on behalf of all 27 member countries, it could still be targeted by tariffs that hit its most vulnerable industries, Mr Garamendi said. He specifically pointed to Spanish steel, cars and olive oil sectors. 'There are industries that can be impacted, and that has to concern us,' he added.
Daily Mirror
4 hours ago
- Daily Mirror
Canary Island to charge sunbathers £3.80 in first hike price in 23 years
In a huge blow to Brits, a tourist-riddled hotspot on the Canary Islands has unveiled plans to charge holidaymakers almost £4 per day for the privilege of using a sunbed or a parasol Brit tourists heading over to a Canary Island hotspot are slated to be hit by soaring costs if they want to spend their days at the beach. Last year, a whopping four million international visitors flocked to Gran Canaria, making it the second most popular island on the Spanish-owned archipelago. Famed for its 400-hectare dune system, endless golden sandy beaches and crystal-clear water - the destination is perfect for those wanting to top up their tan while kicking back with a good book. Combine this with low rainfall and scorching temperatures that are predicted to hit a scorching 38C this month, and it's clear why Gran Canaria has become a sunbather's paradise. However, that might soon be about to change. For the first time in over two decades, officials have reportedly proposed to increase the cost to rent a sun lounger. The charge, which hasn't changed since 2002 when Spain moved from Pesetas to Euros, will affect all of the beaches in the San Bartolomé de Tirajana region - including in the tourist-riddled hotspots of Maspalomas and Playa Del Ingles. According to Canarian Weekly, renting a sunbed or parasol currently costs €2.50 (£2.13) per day, but this will rise to €4.50 (£3.84) for both items under the new rules. For a family of four renting out a sunbed each for seven days - this will work out at a staggering €126 (£107.41). Along with the price hike - which an economic study suggested should actually rise to €6 (£5.12) - tourists will also be able to rent out Balinese beds for €15 (£12.79) per day and personal safes €3 (£2.56) to lock away their valuables. Local media states the council, led by Yilenia Vega, argues that even with the price hike - the rates remain 'highly competitive' compared to both local and national averages. However, the Spanish Socialist Workers' Party (PSOE) has criticised the move, accusing the council of 'prioritising private company profits over public benefit'. Over in Majorca, authorities are actually seeking to remove a staggering 1,700 of its sun loungers from beaches to make more room for protesting locals. As previously reported, Palma's council has green-lighted plans to slash sunbeds on the city's beaches by 20 per cent by next year. "There has been a loss of sand on the beaches, and we couldn't maintain the same number of sunbeds and umbrellas - and this has coincided with complaints from residents who feel they have less space," a spokesperson for the Department of Home Affairs of the Balearic Islands reportedly said. "The mayor [Jaime Martínez] is aware that the majority of residents don't use the sun bed service, so we decided to implement this redistribution." The move isn't just to snub pasty Brits desperate for a tan, but has also been attributed to rising sea levels which are slowly taking away space on the beach. You can find out which beaches will be affected by the shakeup here.
