Yahoo Sports Santa Maria Novella Partners With Harrods on First Department Store Expansion
LONDON — Florentine fragrance company Officina Profumo Farmaceutica di Santa Maria Novella, otherwise known as Santa Maria Novella, has partnered with Harrods on its first department store partnership.
The brand operates two London stores, one in Piccadilly Arcade and another on Walton Street.
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“Harrods is one of the leading luxury department stores in the world. It’s a milestone for Santa Maria Novella to enter this space, to reinforce the retail presence in London and increase our brand awareness within the London customers and all international clients visiting Harrods,” said Gian Luca Perris, chief executive officer of the 800-year-old brand.
“Harrods is a symbol in London, just as Santa Maria Novella is a symbol of Florence and Florentine savoir-faire. People entering Harrods know they are going to find the most premium and best brands, and Santa Maria Novella is a must in this discovery,” he added.
The Italian brand will occupy a space on the ground floor of Harrods, where the store’s beauty departments are located, with its signature Florentine interiors of wood and marbles.
Luca Perris said the space was inspired by Santa Maria Novella’s flagship museum in Via della Scala in Florence, where the brand was founded in 1221 by Dominican friars.
The brand offers more than 600 different products including skin care, soaps, pomades, colognes, candles, ambient fragrances and liqueurs, all delivered in its signature, old-school packaging.
“We are amid a global expansion: wherever we go, we meet with clients that love Santa Maria Novella, as a brand and for our premium products,” Luca Perris said.
In January 2020, Italian investment company Italmobiliare acquired a 20 percent stake in the business, followed by an investment of 120 million euros to acquire an additional 60 percent holding, becoming the brand’s majority investor and then taking full control in October 2021.
Santa Maria Novella employs more than 100 people and sells high-end products in 300 stores in the world.
In 2019, Santa Maria Novella registered a consolidated pro-forma turnover of more than 31 million euros with earnings before interest, taxes, depreciation and amortization of around 13 million euros.
Santa Maria Novella was Italmobiliare’s first investment in the perfume and cosmetics industry.
In 2016, Italmobiliare acquired the Clessidra Sgr SpA private equity fund for roughly 20 million euros, while the following year it finalized the acquisition of a 40 percent stake in outdoor footwear and ski equipment specialist Tecnica Group for 60 million euros.
Founded in 1960 by the Zanatta family, the latter controls a range of specialized labels, including Nordica, Moon Boot, Lowa, Blizzard and Rollerblade.
Italmobiliare has invested more than 400 million euros in Made in Italy brands, enriching its portfolio that currently rep resents an aggregate turnover of around 1.6 billion euros.
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