September 10, 2024
In a significant move within the global beauty industry, LVMH, the renowned luxury goods conglomerate, has announced the completion of a majority stake acquisition in the Latvian bath and body care brand, Stenders. This acquisition marks a strategic expansion for LVMH in the health and wellness sector and is poised to enhance Stenders’ global presence.
Stenders: A Latvian Legacy
Stenders, founded in 2001 in Riga, Latvia, the country’s capital, has established itself as a leading player in the bath and body care market. Rooted in Latvia’s unique Pirts culture, which combines physical cleansing with mental and spiritual purification, Stenders has leveraged this heritage to create a brand that resonates with consumers seeking a holistic bathing experience.
The brand’s commitment to pure handcrafting, the freshest, and all-natural ingredients has earned it a reputation as a national treasure in Latvia. Stenders’ products have been recognized for their quality and have been gifted by the Latvian government as diplomatic gifts.
LVMH’s Strategic Investment
LVMH, through its investment arm L Catterton, has acquired a majority stake in Stenders. This move is in line with LVMH’s strategy to diversify its portfolio and strengthen its position in the fast-growing health and wellness sector.
The acquisition is expected to further solidify Stenders’ market position and accelerate its expansion into key markets in Asia, Europe, the Middle East, and the United States. Stenders, which currently operates in 20 countries and regions globally, is well-positioned to leverage LVMH’s global reach and expertise.
Sustainable and Innovative Products
Stenders’ product range, which includes over 400 items, is crafted with a focus on safety, sustainability, and functionality. The brand utilizes natural ingredients and sustainable packaging materials, aligning with the growing consumer demand for eco-friendly and ethical beauty products.
Stenders’ commitment to innovation is evident in its range of products, which have received acclaim for their scent, texture, efficacy, and ingredient quality across various markets.
A Legacy Continues
The acquisition by LVMH is a testament to Stenders’ brand legacy and its potential for future growth. While LVMH takes the reins, the founders, Yang Gang and Zhao Yang, continue to hold a significant stake in the brand, ensuring a smooth transition and maintaining the brand’s core values.
The partnership between LVMH and Stenders is set to create a powerful combination of luxury, innovation, and sustainability, poised to redefine the global bath and body care market.
Conclusion
The acquisition of Stenders by LVMH marks a significant milestone in the global beauty industry. With its unique heritage, innovative products, and strong market position, Stenders is well-positioned to thrive under LVMH’s stewardship. This move is a testament to LVMH’s commitment to diversification and its vision for a sustainable future in the health and wellness sector.
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