The Estée Lauder Companies are to acquire Le Labo, it was announced today. The brand was founded in 2006 by fragrance industry veterans Fabrice Penot and Eddie Roschi.

As well as a range of fragrances, Le Labo have freestanding stores in New York, London, Paris, Los Angeles, San Francisco, Tokyo and Hong Kong, as well as select prestige department stores in global flagship cities.

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The brand has built a loyal following based on its high-quality products and unique retail experiences which emphasize exceptional service, personalized products, and exclusivity. Its current product offerings include fragrances, body care products and candles, as well as limited-edition “City Exclusive” scents, available only in certain boutiques by region.

“Le Labo is the perfect complement to our portfolio of prestige beauty brands,” said Fabrizio Freda, President and Chief Executive Officer of The Estée Lauder Companies Inc. “Fabrice and Eddie have built a beautiful, incredibly unique brand with a focus on craftsmanship, personalization, and High-Touch services. We look forward to collaborating closely with them to continue building on their extraordinary success with discerning global consumers.”

“The Estée Lauder Companies is the ideal home for us and for our brand,” said Le Labo co-founders Fabrice Penot and Eddie Roschi. “We founded Le Labo with the guiding principle that the soul of a fragrance comes from the intention with which it is created, and the attention with which it is prepared. The Estée Lauder Companies not only understands and respects the core elements of our business, but also has the resources to help us continue to grow into a more fully expressed sensory lifestyle brand. The Company has a strong track record of growing and nurturing prestige entrepreneurial brands, and we love that they are so supportive of and committed to our vision.”

“Entrepreneurship is at the heart of our Company’s heritage,” said William P. Lauder, Executive Chairman, The Estée Lauder Companies Inc. “One of the leading strengths of our Company is our ability to identify brands with unique positioning and nurture them to accelerate their momentum and realize their full growth potential. We are so pleased that the addition of Le Labo – with its strong growth trajectory as a global fragrance and sensory lifestyle brand – will continue this legacy.”

Le Labo will be overseen by John Demsey, The Estée Lauder Companies’ Group President, responsible for Estée Lauder, M·A·C, Tom Ford, Prescriptives, Bobbi Brown, Jo Malone, La Mer, Bumble and bumble, Smashbox and Aramis & Designer Fragrances.