PARIS, March 20 (Reuters) - French luxury group LVMH has agreed to buy a majority stake in French independent perfume house Maison Francis Kurkdjian as it expands in fast-growing niche luxury fragrances.
LVMH did not disclose financial terms of the deal with Maison Francis Kurkdjian, which was created in 2009 by perfumer Francis Kurkdjian and its chief executive officer Marc Chaya.
The company has a presence in over 500 ultra select retail locations in more than 40 countries, LVMH said in a statement announcing the purchase on Monday.
“The acquisition by LVMH of a majority interest in Maison Francis Kurkdjian will allow the fragrance house to pursue its growth, in particular in international markets,” it added.
Chaya and Kurkdjian will continue in their existing roles and will remain shareholders in the company. (Reporting by Dominique Vidalon; Editing by Alexander Smith)