Luxury beauty distributor Nirvana Brands has announced the acquisition of Lovely Distribution Company as it looks to make use of the company’s luxury fragrance portfolio.
Through the acquisition, Nirvana is planning to expand its own product line while also leveraging more opportunities for growth in the luxury beauty industry as a whole.
In a release, Dilesh Mehta, CEO and owner of UK-based Nirvana Brands, welcomed Lovely Distribution to the company, adding: "Their expertise in developing and distributing leading fragrance brands aligns perfectly with our mission to provide quality luxury beauty products to our customers and consumers."
Lovely Distribution Company’s product line, which includes Sarah Jessica Parker’s fragrance Lovely, will be incorporated into Nirvana Brands’ existing portfolio to strengthen its position as a distributor of luxury fragrances.
It builds on Nirvana’s broader strategy of expanding its offerings as it plans to continue seeking opportunities for growth while enhancing its portfolio.
Commenting on the acquisition, Andre Frenkle, former CEO of Lovely Distribution, said: "This is an exciting time for our company and for the fragrance category.
"By joining forces with Nirvana Brands, we will be able to provide even more value to our customers and bring new and innovative products to the market.”