D.S. & Durga acquired by Manzanita Capital as it eyes UK growth opportunities

Manzanita Capital, the owner of Diptyque, Space NK, Malin+Goetz and Susanne Kaufmann, has acquired a majority stake in Brooklyn-based fragrance brand D.S. & Durga.

While specific terms of the deal were not disclosed, husband-and-wife founders David Seth Moltz and Kavi Ahuja Moltz will stay on to creatively lead the brand through its next phase of growth.

"Manzanita Capital respects David and I as creatives and wants us to do what we do best, which is drive the brand creatively," Kavi told WWD.

"That's what we're going to be able to do now that we'll be able to hire more people. We're still a small brand and spread quite thin. David doesn't just make perfume, and I'm not just doing the packaging, branding and design. Hopefully, we will be able to just do more of what we're good at."

In the UK, D.S. & Durga is sold at Liberty London and Cult Beauty, with shipping options also available via its own website.

The brand's partnership with Manzanita Capital hopes to provide further global growth opportunities for the business, particularly in the UK.

"International expansion is something we want to start to conquer a bit more," Kavi added. "Manzanita Capital is located in England; it has more boots on the ground and more connections.

"Because of its experiences with other brands, the firm has a lot of distribution partnerships that could help us."

Manzanita Capital is a London-based private equity firm with a history of investments in luxury and premium niche beauty companies.

The acquisition of D.S. & Durga builds upon Manzanita Capital's involvement in the fragrance industry, having already invested in Diptyque as well as Byredo before it was purchased by Puig in 2022.