Thomas Saujet is getting again within the perfume sport.
Saujet, the previous president of distributor ICP, which bought to Kering as a part of the conglomerate’s acquisition of Creed, has a brand new enterprise. Merely named Saujet Fragrances Group, the distributor-investor combo sits underneath Saujet Holdings, which additionally lately invested in Barberino’s.
“I’ve seen too many individuals simply promote their enterprise and never do something afterward,” Saujet mentioned. “I felt like I wanted to do one thing and depart a legacy behind.”
To that finish, Saujet Fragrances Group takes fairness in every perfume model it distributes and, to this point, has 4 in its portfolio: Fabricca Della Musa, Anti, Chambre52 and What We Do Is Secret.
“We’re staying as an unbiased, family-owned enterprise enterprise,” Saujet mentioned. “We’ve got the ICP monitor report. We’re nonetheless boutique, however whereas holding an fairness stake in these manufacturers, we’ve got the power to be aligned with the manufacturers on imaginative and prescient, technique and what to do for the long run.”
A part of the long-term playbook, he mentioned, could be retaining distribution tight. “We began dabbling with presenting to very choose accounts,” Saujet mentioned. “It’ll be so strategic by way of specialty shops, and after we get to the purpose of launching with shops, it is going to be very, very, very choose doorways. The aim will not be a whole bunch of factors of sale.”
He’s additionally been enjoying within the perfume class lengthy sufficient to see the tectonic shifts in its retail panorama, from the formation of Saks World to the privatization of Nordstrom Inc. and the facility of Amazon and TikTok.
Fragrances from Saujet Fragrances Group manufacturers.
Courtesy of Saujet Fragrances Group
“There’s going to be extra downsizing, merging, consolidation,” he mentioned. “I feel there are different gamers who will be capable to reap the benefits of that.”
The main focus continues to be on relationship — and heritage-driven manufacturers, just like how he constructed the ICP portfolio. “I’m all about relationships,” he mentioned. “It’s first about getting to know the founders, and whether or not it’s a long-term marriage or if it’ll finish in divorce. And subsequent, it needs to be about innovation.”
Saujet acknowledged that perfume — nonetheless the fastest-growing status class within the U.S. market — is shortly turning into oversaturated.
“Everybody’s launching issues,” he mentioned. “There needs to be an understanding of the factors of differentiation. The manufacturers I’ve chosen every have that innovation, disruption or credibility that we will go forward to make them successes.”
Pointing to Fabbrica Della Musa, “We’re speaking about unimaginable perfumers,” he mentioned. “They use applied sciences that not everybody jumps on,” like smell-to-taste, which creates gourmand accords primarily based on how meals style.
Anti, for instance, additionally replicates scents from centuries previous, whereas What We Do Is Secret has tapped perfumer heavyweights comparable to Maurice Roucel of Symrise. Paris LA, architected by Laurent Le Guernec, brings a Coca-Cola accord to market. “We’ve obtained some stuff that’s cross-generational, and there’s a youthful buyer who’s all about fragrances,” Saujet mentioned. “Accounts and prospects all suppose they’re disruptive. We’ve obtained some wonderful stuff.”
Saujet doesn’t have a portfolio measurement he’s aiming for, saying he evaluates new enterprise on a case-by-case foundation. “It’s loopy, the quantity of manufacturers which are coming ahead, however I’ve to be aware and reasonable,” he mentioned. “I’m right here to construct one thing new, this time round, hold it within the household for generations.”
