Advent International Lists Parfums de Marly Amid Shifts in Luxury Beauty Sector

Parfums de Marly, about to change hands. The U.S. fund Advent International is studying options to sell the French firm specialized in high-end fragrances, in a transaction that could exceed $2 billion, according to the Financial Times. The transaction is considered one of the largest of the year in the beauty sector, at a time of intense corporate activity.

Advent, which acquired a majority stake in the group in 2023 from founder Julien Sprecher, is keeping a number of options open, including a full sale of the business or a partial divestment. The company has not yet hired financial advisors, although sources quoted by the newspaper indicate that the process could be formalized in early 2026.

The Paris-based French group also controls the Initio Parfums Privés brand and has experienced strong growth in recent years within the niche fragrance segment. Since its founding in 2009, Parfums de Marly has established itself as one of the most recognizable names in selective perfumery, with a presence in key markets such as Europe, the Middle East and the United States.

The Advent fund acquired its stake just two years ago for a valuation in excess of $700 million. Since then, the company has doubled in size and strengthened its executive structure with the addition of Patrice Béliard as CEO this month, replacing Julien Sausset, who had held the position for nearly a decade.

Parfums de Marly is valued at $2 billion

The news comes just days after Kering completed the sale of its cosmetics division to L’Oréal for €4 billion, a deal that included the Creed house and the beauty licenses of Gucci, Bottega Veneta, Balenciaga and Alexander McQueen. The move, driven by new CEO Luca de Meo, marks the group’s definitive exit from the cosmetics business, with the aim of reducing debt and concentrating efforts on traditional luxury.

In parallel, LVMH, the world’s leading conglomerate in the sector, is exploring the sale of 50% of Fenty Beauty, its make-up brand developed with singer Rihanna, according to Reuters. Both moves reflect a retreat from classic luxury to more profitable categories, such as leather goods, fashion and jewelry, and a shift of financial interest to the premium fragrance business, which continues to outgrow the beauty market as a whole.

The interest in Parfums de Marly comes in a context in which high-end fragrances have become one of the few segments of the sector to maintain sustained growth. According to Euromonitor data, the global luxury fragrance market grew by 11% in 2024, compared to 4% for the cosmetics industry as a whole.

The potential sale of the French firm would confirm the trend of investment funds to revalue perfumery assets in a short cycle, driven by the demand for strategic acquisitions by large groups or institutional investors.