Byredo founder and Chief Creative Officer Ben Gorham is leaving the company three years after it was acquired by Puig.
Gorham set up the cult independent fragrance brand in Sweden in 2006, which became known for scents such as Mojave Ghost and Gypsy Water.
It has since expanded into make-up, body care, fashion and homeware.
Puig snapped up a majority stake in the brand in 2022 and, at the time, Byredo was reportedly valued at around €1bn.
As part of the deal, Gorham’s leadership continued as Chief Creative Officer, a role Puig said was agreed until June this year, accordintg to reports from WWD and Business of Fashion.
“Puig's experience in beauty and fashion will be instrumental in the brand's future growth and will help Byredo unlock its potential across multiple categories,” Gorham told both publications.
“I am proud of what we were able to achieve over a 20-year journey and [I] am confident in a bright future for Byredo.
“The brand has a strong identity that I now fully entrust with Puig as I look to embrace new opportunities.”
Marc Puig, Chairman and CEO of Puig, said: “It has been a great privilege to collaborate with such a high-caliber founder, and we are proud of the partnership we have had with Ben Gorham over the past three years.
“At Puig, we have a strong track record of inheriting the legacy of a brand's founder and, while remaining very respectful of its roots and raison d'être, nurturing and fostering its next chapter of growth.
“Ben did a remarkable job in creating a unique and special proposition with Byredo, and we will work hard to protect its identity while unlocking its tremendous potential for the future.”
The Spanish beauty and fashion conglomerate has invested in a number of brands in recent years.
In 2024, Puig snapped up a majority stake in German skin care brand Dr. Barbara Sturm, and in 2020 it it acquired a majority stake in make-up brand Charlotte Tilbury.
At the end of last year, a new deal was agreed for Puig to take full ownership of the Charlotte Tilbury brand by 2031.