Puig snapped up a majority stake in the brand in 2022 and, at the time, Byredo was reportedly valued at around €1bn.

As part of the deal, Gorham’s leadership continued as Chief Creative Officer, a role Puig said was agreed until June this year, accordintg to reports from WWD and Business of Fashion.

— Read more in Byredo founder Ben Gorham departs cult fragrance brand at Cosmetics Business.