L Catterton Takes Minority Stake in EX Nihilo

L Catterton has acquired a large minority stake in Paris-based fragrance house EX Nihilo.

The niche brand, which was founded in 2013, is celebrated for scents that combine contemporary aesthetics with traditional French craftsmanship, alongside the expertise of master perfumers and high-quality raw materials. Fleur Narcotique and Blue Talisman lead the brand — two cult-favourite fragrances that have helped position EX Nihilo among the fastest-growing names in luxury fragrance.

“Our fragrances are born from Paris, but they have always been crafted with a global audience in mind. The U.S. clients, in particular, have embraced our creations like Blue Talisman,” said founders Sylvie Loday, Olivier Royère, and Benoît Verdier. “This partnership with L Catterton allows us to deepen that emotional connection and scale up while remaining faithful to the high craftsmanship and innovation that defines EX Nihilo.”

The deal follows a period of strong growth under previous investor Eurazeo and sets the stage for EX Nihilo’s expansion across retail, digital, and international markets — with the US a clear priority.

For L Catterton, the investment extends its established footprint in beauty and personal care. It will join a portfolio that includes brands such as Maria Nila, TULA, Merit, Oddity, The Honest Company, Elemis, and Nutrafol.

“EX Nihilo has an incredible foundation built on creative excellence, a strong Parisian heritage, and outstanding brand resonance,” said Miray Topay, Partner at L Catterton. “We are excited to partner with the founders to help scale the House globally, focusing on expanding its presence in the U.S. and on accelerating its digital transformation. With our deep category expertise, we believe this partnership will unlock tremendous growth potential.”

The transaction is expected to close in the first quarter of 2026, pending customary regulatory approvals and closing conditions.