TSG Consumer is set to buy indie fragrance label Phlur for an undisclosed sum.
The private equity firm has signed a definitive agreement to buy the masstige brand, which is known for its bestselling mood-centred scents Missing Person and Vanilla Skin.
Phlur was established in 2015 but taken over by influencer Chriselle Lim in 2021, who relaunched the brand with Ben Bennett’s beauty accelerator The Center.
As part of the acquisition deal, Lim will continue her role as Phlur’s Creative Director and retain her stake in the business, alongside The Center.
Prelude Growth Partners will exit its investment in Phlur as part of the transaction.
“TSG Consumer’s expertise in brands and understanding of the beauty space make them an ideal partner,” said Elizabeth Ashmun, CEO of Phlur.
“We are grateful to The Center and Prelude Growth Partners for believing in us early on, and we are now poised to accelerate Phlur’s reach while continuing to champion the creativity that has always set us apart.”
Hadley Mullin, Senior MD at TSG Consumer, said Phlur’s position in the market makes it ripe for expansion.
The brand is currently sold via its e-commerce store, as well as in beauty retailers Sephora, Amazon and Space NK.
“Phlur’s commitment to authenticity, emotional storytelling and modern scent creation makes it a standout in today’s fast-growing fragrance market,” said Mullin.
“We are excited to support Phlur’s continued growth by expanding its presence across geographies and product categories, while preserving the creative vision and emotional resonance that define the brand.”
TSG Consumer specialises in brands in the consumer sector, with approximately US$13bn in assets under management.
It has past and current investments in several consumer goods companies, including Dutch Bros Coffee, e.l.f. Beauty, IT Cosmetics, Mavis Tire, Smashbox Cosmetics, Summer Fridays, Think! and Yard House.