NEW YORK – Juliette Has a Gun has raised a new round of funding, with Cathay Capital private equity group raising its stake in the niche French fragrance brand and Weinberg Capital Partners taking a minority share.
Specific terms of the deal were not disclosed, but the news, which broke Tuesday, comes two years after Cathay Capital took an initial minority stake in Juliette Has a Gun.
The investment comes at a time when niche fragrances are a prime growth driver of the burgeoning perfume market.
Since Cathay Capital’s investment, Juliette Has a Gun has been consolidating its footprint in the U.S., China and the Middle East, and continues developing in Latin America and Southeast Asia.
Juliette Has a Gun was founded in 2005 by Romano Ricci, a great-grandson of Nina Ricci. At the outset, his goal was to create “something closer to women’s daily lives.”
“Juliette is a women’s fragile side, and the gun represents power — a passport to liberty,” said Ricci in a 2007 WWD interview. He learned his trade from his grandfather, Robert Ricci.
The younger Ricci said he wanted to give a modern edge to romanticism. His goal has been to restore fragrances as emblems of style and originality.
Over the last four years, Juliette Has a Gun’s sales have grown on average by 40 percent annually, tripling turnover over the last two years to generate 120 million euros in retail sales in 2022.
The brand is sold more than 50 countries and about 2,500 sales points, including Sephora in the U.S. and Ushopal in China.
“Juliette Has a Gun gained significant audience over the last years, especially among young women who are now looking for more originality and a real quality experience to mark their singularity,” said Romano Ricci, in a statement, adding he is convinced Cathay and Weinberg’s “combined expertise will take the brand to the next stage.”
“We have been very impressed with the transformation of Juliette Has a Gun over the last three years and the implication of its expert teams and management, which have led them to a real success story,” said Edouard Moinet, a partner at Cathay Capital.
“We are proud to remain part of their cross-border growth journey and believe the brand still has significant runway, which is why we are investing even more this time alongside Weinberg Capital Partners to accelerate their development even further,” he continued.
“We were seduced by the brand’s disruptive identity, which breaks the codes of the industry, as well as its ability to attract younger generations,” said Philippe Klocanas, a partner at Weinberg Capital Partners.
“Its traction in markets as competitive as China and the United States best illustrates its potential,” he explained.
Ohana & Co. investment bank and Bredin Prat law firm advised Juliette Has a Gun, while Hogan Lovells and Allen & Overy advised Weinberg Capital Partners.
Source: WWD