MILAN – Argentinian niche fragrance house Fueguia 1833 has received an equity investment by Ilwaddi WLL, an investor based in the Middle East, WWD has learned.
The financial terms of the deal were not disclosed.
Fueguia 1833 plans to use the funds to accelerate the development of the brand’s distribution network globally, both online and offline, in addition to continue expanding its product range and in-house manufacturing capabilities.
Founded in 2010 in Buenos Aires by botanist Julian Bedel, Fueguia 1833 is vertically integrated and responsible for every step of the manufacturing process. Bedel is directly involved in each step of the fragrances’ realization: from the botanical research of exclusive natural ingredients, to their distillation; from the creation and formulation of the scents to the design of the final packaging, until the sales in the boutiques. In particular, for his fragrances Bedel culls many elements from the culture of South America, including writers, landscapes, characters, animals, specific plants and music.
The brand grew and reached worldwide recognition thanks to its experimental approach and wide assortment of fragrances, each featuring the year of production and a serial number, as they are limited-edition and manufactured in accordance with the availability of the natural ingredients. The signature Fueguia 1833 geometric bottle is made of recyclable glass and comes wrapped in a copy of a vintage map of Patagonia in handmade cases made of wood recovered from fallen or burn trees.
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In terms of distribution, Bedel focused on selected perfumeries and concept stores to flank the brand’s e-commerce and freestanding units. In particular, Fueguia 1833 currently counts flagships in Milan, London, New York, Buenos Aires and in Jose Ignacio, in Uruguay. Being Japan a key market for the brand, Fueguia 1833 will double its direct presence opening a store in Tokyo’s Ginza next month to add to the existing unit in the Rappongi district.
For the investment transaction, Ohana & Co. acted as financial advisor and Chiomenti served as legal counsel to Julian Bedel and Fueguia, while Alvarium CoRe Partners acted as financial advisor and Legance and Proskauer served as legal advisors to Ilwaddi.
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