LVMH Luxury Ventures buys stake in BDK Parfums

The LVMH Luxury Ventures investment fund is in the news again, after acquiring a minority stake in French niche perfumery brand BDK Parfums. The goal of the operation is to enable BDK to expand internationally by opening flagship stores, and to add to its product range.

The financial details of the operation, which was completed on November 26, have not been divulged. It is the first time that BDK Parfums has opened a door to external investors. The timing is by no means random. The global perfume market, estimated to be worth $50.46 billion in 2024, is set to grow to $53.04 billion in 2025, according to a Fortune Business Insights study released in November. Niche perfumes have been driving this growth for nearly a year, if not more.

International expansion

BDK has set its sights on the Asian market, especially on Japan and South Korea, and already has a presence in some 40 countries. The brand’s main market is France, followed by the USA and Germany. The Middle East is another of its key markets, with a store opening in Dubai set to take place soon, and sales in the UK are increasing rapidly. BDK has recently launched in Thailand, Vietnam, Malaysia and Indonesia.

Since 2024, LVMH Luxury Ventures has invested in ready-to-wear labels Our Legacy, Gabriela Hearst, Aimé Léon Doré and Molli, in Scandinavian luggage brand Db, and in beauty brand Officine Universelle Buly. The latter was eventually acquired by LVMH, and on November 27 it opened a store at 29 rue de Richelieu, in Paris’s first arrondissement.

Preserving creativity

“A huge thank you to Julie Bercovy Alessandro Magnani and Timothée Le Guay for their trust,” wrote BDK’s founder and designer David Benedek on LinkedIn. “I’m confident that our shared vision of contemporary perfumery will continue to shape BDK Parfums’s growth while preserving its identity and its olfactory and aesthetic creativity,” he added.

In a press release, Bercovy, CEO of LVMH Luxury Ventures Advisors, said that “we are delighted to support BDK Parfums in its new expansion phase, especially internationally, and we appreciate the quality of its fragrances.” According to Women’s Wear Daily, Benedek is also working with Joel Palix, founder of consulting firm Palix Unlimited, specialised in the niche perfumery segment.

Sales unaffected by controversy

BDK’s strategy is to open a spate of new stores, beginning in 2026, also focusing on its customers’ in-store experience. The brand opened its first flagship in January 2024 on rue Saint-Honoré in Paris. BDK is also planning to invest in its e-shop, which currently generates approximately 10% of the brand’s revenue.

BDK continues on an upward growth track in the market, posting a 45% sales increase this year, despite last year’s controversy, sparked by Benedek’s support for Israel on social media. He has since watered down his support, saying he condemns “everything that is currently happening in Gaza,” after a call to boycott BDK was issued online.

LVMH Luxury Ventures has acquired a stake in BDK at a time when many investors are keenly interested in niche perfume brands, as shown by Kering’s sale of Kering Beauty and Creed to L’Oréal in October.