Kering Beauté acquires minority stake in Matière Première

Matière Première has completed its second round of funding, with Kering's beauty division acquiring a minority stake in the French fragrance brand. Founders Aurélien Guichard, Cédric Meiffret and Von Knorring remain majority shareholders.

The undisclosed investment by Kering Beauté will be used to expand the Paris-based company's international presence. This includes opening 20 standalone stores in the UK, US, France, Germany, the Middle East and China.

"We will also strengthen our online presence with our own e-commerce website, which we are perfecting to offer a unique and personalised user experience," said Caius von Knorring, co-founder and president of Matière Première.

Among the ingredients used in the company's fragrances are Parisian Musk, which has the scent of Peruvian musk seeds, and the recently launched Vanilla Powder, made from Madagascar vanilla extract. Several ingredients, such as Centifolia Rose and Tuberose, come from Guichard’s farm in the Grasse region of France. The brand also offers hair fragrances with the same notes as its perfume collections, as well as hand and body creams.

Matière Première closed its first round of funding in October 2020, raising €1.3 million to accelerate its business growth. The new investment comes as luxury giant Kering continues to increase its beauty push. The company spent more than $3.8 billion to acquire French perfume brand Creed in 2023. This is the first strategic acquisition of the dedicated beauty division, which was established in February 2023 to enhance its existing product portfolio and presence in the cosmetics category.

Raffaella Cornaggia, a beauty industry veteran who previously worked at L'Oréal and Estée Lauder, is currently in charge of the luxury company's beauty division.