PARIS – Ben Gorham is parting ways this month with Byredo, the Swedish luxury beauty and lifestyle brand he founded in 2006, which is now owned by Puig.

Terms of their strategic partnership were outlined in an agreement signed by both parties in 2022, part of which said that Gorham would maintain creative leadership until this June, according to the Spanish beauty and fashion company. 

That year, concurrent to Puig’s initial public offering, the company acquired 100 percent of Byredo. Puig said its goal was to unlock the brand’s potential across numerous product categories, reinforcing Puig’s position in high-end fragrances and beauty, among other segments.

“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, Gorham said in a statement.

“I am proud of what we were able to achieve over a 20-year journey and am confident in a bright future for Byredo,” he continued. “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, said: “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,” said Puig. “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.”

On May 31, 2022, it was announced that Puig had acquired a majority stake in Byredo from Manzanita Capital. At the time Byredo had a reported valuation of more than 1 billion euros. 

Byredo slotted well into Puig, as both place a high premium on the role of design in the luxury goods world. Puig also straddles the worlds of fashion and beauty with brands. In addition to its fragrance, home fragrance and color cosmetics, Byredo now markets leather goods, jewelry, eyewear and sleepwear.

The brand burst onto the makeup scene in October 2020 with an iconoclastic collection Gorham created in collaboration with makeup artist Isamaya Ffrench. It has unconventional hues evocative of emotions, clean formulas, plus packaging, product selection and imagery that broke the mold. In 2022, makeup artist Lucia Pica began collaborating on the line. 

Puig’s portfolio of brands includes, as well, owned brands Rabanne, Carolina Herrera, Charlotte Tilbury, Jean Paul Gaultier, Nina Ricci, Dries Van Noten, Penhaligon’s, L’Artisan Parfumeur, Uriage, Apivita, Dr. Barbara Sturm, Kama Ayurveda and Loto del Sur, as well as the beauty licenses of Christian Louboutin, Banderas and Adolfo Dominguez.