London-based Manzanita Capital has successfully acquired a majority stake in the U.S. perfumer D.S. & Durga, marking a significant move in the fragrance industry. The terms of the deal, however, have not been disclosed. Established in 2009 by David and Kavi Moltz, D.S. & Durga, based in Brooklyn, has gained a devoted following over the past 15 years due to its distinctive scents and creative branding, evident in popular fragrances like Debaser, I Don’t Know What, and Grapefruit Generation.
Despite the acquisition, the Moltz couple will continue to lead the creative direction of the brand in its next phase of growth. Monogram Capital, which invested in D.S. & Durga in 2018, will retain a minority stake in the company.
The funds generated from this strategic move will be utilized to expand D.S. & Durga’s retail presence, hire new talent, and facilitate international expansion, as reported by multiple sources. Manzanita Capital, with a portfolio that includes prestigious brands like Diptyque, Space NK, Malin+Goetz, and Susanne Kaufmann, is well-versed in the luxury fragrance market.
Notably, Manzanita Capital made waves in 2022 when it successfully sold the niche luxury fragrance brand Byredo to the Spanish beauty giant Puig for a reported sum of $1 billion. This recent acquisition aligns with Manzanita Capital’s continued focus on fostering growth and innovation within the fragrance industry.
