TSG Consumer, a private equity firm specializing in consumer brands such as Dude Wipes (a recent investment) and Huda Beauty (from which it has exited), has signed an agreement to acquire fragrance disruptor Phlur.
Chriselle Lim will continue as creative director and retain a stake in the company, alongside Ben Bennett’s The Center, which partnered with Phlur in 2021 as part of a brand refresh. Prelude Growth Partners will sell its stake as part of the transaction.
Phlur is known for its popular fragrances, including Vanilla Skin, Heavy Cream, and Missing Person. The brand has grown quickly through its website and retail partners like Sephora, Amazon and Space NK.
It's also a leading brand on TikTok, as shown in recent Spate data highlighting the brand's power in driving interest in gourmand notes.
Prior to its 2021 revamp, the Phlur brand began life as an upstart indie focused on "clean" fragrance.
“We’ve always believed fragrance is a deeply personal form of self-expression,” said Lim. “Our community values transparency, creativity, and emotional connection. TSG Consumer shares those values, and we’re thrilled to partner with them for this next chapter.”
“TSG Consumer’s expertise in brands and understanding of the beauty space make them an ideal partner,” said Elizabeth Ashmun, CEO of Phlur. “We’re grateful to The Center and Prelude Growth Partners for believing in us early on, and we’re now poised to accelerate Phlur's reach while continuing to champion the creativity that has always set us apart.”
“Phlur's commitment to authenticity, emotional storytelling, and modern scent creation makes it a standout in today’s fast-growing fragrance market,” said Hadley Mullin, senior managing director at TSG Consumer. “We’re excited to support Phlur's continued growth by expanding its presence across geographies and product categories while preserving the creative vision and emotional resonance that define the brand.”
Colin Welch, managing director and head of New York at TSG Consumer, added, “Today’s fragrance shopper is looking for more than scent—they’re seeking identity, emotion, and discovery. PHLUR’s rapid growth and devoted customer base reflect its remarkable ability to meet that demand. Together, we will work to drive continued loyalty with existing consumers and introduce new fragrance lovers to the brand.”
Bennett added, “Phlur's journey has been extraordinary, and we’re proud to have supported its growth. We look forward to continuing that success with TSG Consumer’s partnership.”
Neda Daneshzadeh, co-founder and managing partner at Prelude Growth Partners, added, “We have been so proud to support Phlur on its remarkable journey and we look forward to seeing all they will accomplish.”
