Puig has become a minority shareholder in Brazilian beauty company Granado. The companies said the agreement was seen as a long-term partnership to support the growth of the brand in both domestic and international markets.
“Puig will help us to continue with the expansion of the concept stores in Brazil and abroad – which started in 2013 in the French market, with a corner in the luxury department store Le Bon Marché,” commented Granado Marketing and Sales Director Sissi Freeman.
Granado President Christopher Freeman will remain in charge and reportedly sees no changes being made to the current business model in the coming years.
The transaction amount is confidential.
A leader in the Brazilian cosmetics market, Granado was founded in 1870 by Portuguese immigrant José Antônio Coxito Granado. It became known as a pioneer in the production of high-quality natural preparations.
The company’s portfolio includes over 900 SKUs including bath, body, cosmetics, derma-cosmetics, fragrances, baby, pharmaceutical and pet products. Granado has two production facilities located in Rio and Belem for the manufacture of its vegetable-based, non-animal tested products.
Granado also owns Phebo, described as one of Brazil’s most recognised perfumery and glycerin soap brands. Phebo was bought by Christopher Freeman in 2004.
