"World's most expensive perfume" snapped up by Stagecoach founders and Jon Moulton
2 min read
21 September 2015
The founders of Stagecoach, and one of the City's most prominent financiers, struck a multimillion pound deal to take control of luxury fragrance brand Clive Christian.
Famous for its tag line, “The world’s most expensive perfume”, a Clive Christian 100ml perfume costs £275 and is only stocked in luxury departments stores such as Harrods and Selfridges.
In addition to perfumes, the Clive Christian name is attached to furnishings and interiors.
The business has now been acquired by EME Investments 5, whose stakeholders include Souter Investments – comprising Stagecoach founders Brian Souter and Ann Gloag – and UK investor Jon Moulton.
Clive Christian, who will continue to hold a stake in the business he founded in 1978, will become creative director while Amy Nelson-Bennett, the former CEO of Molton Brown will be taking over as chief executive.
Christian said: “We have evolved to the stage where we now require new expertise and significant investment to move the brand forward in a progressive manner. I want to ensure succession plans are in place, as well as a management structure that enables us to better grasp opportunities as they arise in market. I have retained a minority shareholding and will continue to be actively involved in the business.”
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The takeover underlines the interest in luxury brands from private equity investors, following a string of buyouts involving Hugo Boss, Jimmy Choo and Valentino.
Calum Cusiter of Souter Investments said: “We are no stranger to investing in luxury brands having been part of the syndicate that successfully invested in Sunseeker, the luxury motor yacht manufacturer.
“Clive Christian is one of the most respected luxury fragrance brands in the world and we look forward to playing our part in growing the business in the UK and around the globe.”
In a statement, Christian described the deal as “a wonderful opportunity” for the company. “The brand is unapologetically British, heraldic, opulent and committed to producing the absolute best in its field regardless of cost,” he said. “The potential to grow both parts of the business in the UK and internationally is immense.”