LVMH Expands into Niche Fragrance Market by Investing in BDK Parfums

LVMH strengthens its niche perfumery project. The LVMH Luxury Ventures Fund has taken a minority stake in BDK Parfums, the brand founded in Paris by David Benedek and one of the independent firms that has gained the most traction in recent years. The financial terms of the deal have not been disclosed.

This is the first time BDK has opened its capital to outside investors, in a context of strong growth in the category. Niche perfumery continues to lead the expansion of the global fragrance market, which has attracted the interest of large luxury and cosmetics groups. BDK has raised its sales by 45% compared to 2024, as reported by WWD.

The objective of LVMH’s entry is to accelerate internationalization, strengthen the distribution network and advance the development of new products, while maintaining the company’s creative independence. “The idea of this minority stake was to be able to develop the brand,“ Benedek, CEO of BDK Parfums, told the U.S. media, stressing that he was looking for a specialized partner beyond immediate profitability.

BDK’s catalog is divided into two main lines: Collection Parisienne, inspired by sensations and experiences linked to Paris, and Collection Matières, focused on olfactory raw materials. In addition to these, there are other limited families and launches in partnership with retailers such as Harrods. The brand now has 23 genderless perfumes, five hair fragrances, five candles and home care products. In December, it will launch shower gels and body lotions associated with best-selling fragrances.

LVMH has acquired a minority stake in BDK Parfums through LVMH Luxury Ventures

In 2024, the company opened its first own flagship store on Rue Saint-Honoré in Paris, and plans to open new stores from 2026. The first confirmed project is an opening in Dubai, with which it wants to consolidate its presence in the Middle East.

BDK already operates in 45 countries and has France as its main market, followed by the United States and Germany. The Middle East continues to grow, with the United Kingdom posting double-digit growth. In Asia, the brand has launched operations in Thailand, Vietnam, Malaysia and Indonesia, and is targeting Japan and South Korea.

The company also plans to invest in its digital platform, which represents around 10% of its business, with the aim of expanding that contribution in the coming years. Each product is manufactured in France and the price range is between €50 and €270.

For LVMH Luxury Ventures, the investment in BDK reinforces its strategy of betting on brands with a strong identity. The fund has participated in firms such as Our Legacy, Gabriela Hearst, Aimé Leon Dore and Molli, in addition to having entered Officine Universelle Buly before the complete acquisition by the group. The move also comes at a time of intense activity in the segment, following the purchase of The House of Creed by L’Oréal as part of the sale of Kering Beauty.

LVMH closed the first nine months of 2025 with a turnover of €58.09 billion, down 4% year-on-year and down 2% organically, after posting a 1% increase in the third quarter driven by the improvement in Asia and the pull of Sephora. The fashion and leather goods division, where Fendi is integrated, reduced the decline to 2% organic in the quarter and reached €27.61 billion through September.