Nest Fragrances announced Tengram Capital Partners, LLC (TCP), a Connecticut-based private equity firm, has acquired a significant stake in the company. Laura Slatkin, Nest's founder, will continue to lead the company as CEO and form an executive leadership team that will, under her leadership and guidance, drive the company’s growth.
“We see enormous growth potential for Nest Fragrances, and we are very excited about this new partnership,” said Matthew Eby, co-founder and managing partner of TCP. “In addition to her long-standing reputation in the industry, we have tremendous respect for what Laura has been able to accomplish with the Nest brand in a relatively short period of time; we are very much looking forward to working with her and her talented team to drive the brand’s continued expansion into new product categories and international markets.”
Slatkin founded Nest in 2005 after Slatkin & Co. was acquired by Limited Brands. In July of this year, Nest launched a new line of personal care products, including body wash and body cream, and this month introduces Nest Fine Fragrances, a collection of three fine fragrances in eau de parfum and body cream.
“I am delighted that TCP shares our vision to grow and evolve Nest Fragrances into a world-class luxury lifestyle beauty brand,” said Slatkin. “TCP has a proven track record of investing in strong, iconic consumer brands to unlock their true potential and their partnership will be instrumental as we expand our product portfolio and bring our exceptional luxury products to more consumers in the United States and abroad.”
“This is a tremendously exciting time for Nest Fragrances. With TCP on board along with our highly experienced and extraordinarily talented and growing executive leadership team and staff, we are well-positioned for strategic and meaningful growth as we continue to solidify our standing as a category leader in the luxury consumer goods industry,” added Slatkin.