Founder Ben Gorham to exit Byredo

Founder Ben Gorham will exit Byredo at the end of June, stepping away from the luxury brand he founded in 2006 following its acquisition by Puig.

The terms of their strategic partnership were detailed in an agreement signed by both parties in 2022, which stipulated that Gorham would retain creative leadership until this June, according to Puig.

It comes two years after the Spanish company acquired full ownership of the Stockholm-based fragrance and lifestyle brand. At the time, Byredo had a reported valuation of more than €1 billion.

Gorham’s exit completes Puig’s full integration of the brand.

"Puig's experience in beauty and fashion will be instrumental in the brand's future growth and will help Byredo unlock its potential across multiple categories," said Gorham.

"I am proud of what we were able to achieve over a 20-year journey and am confident in a bright future for Byredo. The brand has a strong identity that I now fully entrust with Puig as I look to embrace new opportunities."

Marc Puig, Chairman and Chief Executive Officer of Puig, added: "It's been a great privilege to collaborate with such a high-caliber founder, and we are proud of the partnership we've had with Ben Gorham over the past three years.

"At Puig, we have a strong track record of inheriting the legacy of a brand's founder and, while remaining very respectful of its roots and raison d'être, nurturing and fostering its next chapter of growth.

"Ben did a remarkable job in creating a unique and special proposition with Byredo, and we will work hard to protect its identity while unlocking its tremendous potential for the future."

Byredo was founded in Stockholm in 2006, with an ambition to translate memories and emotions into products and experiences.

It creates and develops a range of products such as fragrance, makeup, home, leather goods and accessories, and is sold in more than 40 countries worldwide.

The update come after CEO Nicolas Cordier handed over the brand's management to Puig in February 2024 after helping with the M&A process.