Manzanita Capital, a prominent investment firm known for its portfolio of luxury brands, has recently acquired a majority stake in D.S. & Durga, a fragrance brand based in Brooklyn. The terms of the deal have not been disclosed, but this acquisition marks Manzanita Capital’s continued interest in the fragrance industry, having previously held a stake in the renowned brand Byredo before its sale to Puig in 2022.
D.S. & Durga was founded by David Seth Moltz and Kavi Moltz. Following the acquisition, the Moltzs will remain with the company to provide creative leadership during the brand’s next phase of growth. Monogram Capital, an initial investor in D.S. & Durga in 2018, will continue to hold a minority stake in the brand. Kavi Moltz expressed her confidence in the new owners, stating that they respect their creative vision and will allow them to focus on driving the brand’s creativity. With the support of Manzanita Capital, D.S. & Durga plans to expand its team and alleviate the pressures of being a small brand spread thin across various responsibilities.
While D.S. & Durga primarily focuses on fine fragrances, the brand has also ventured into other product formats, including candles, hand sanitizers, and car fresheners. With the recent infusion of capital, the brand’s top priority is expanding globally and building a team to support this growth. Kavi Moltz highlighted the importance of international expansion, noting that Manzanita Capital’s presence in England and their extensive network of connections and distribution partnerships would greatly benefit the brand. She also acknowledged the need for expertise in key fragrance markets like China, where a nuanced understanding is crucial.
D.S. & Durga has experienced significant success, with reported sales ranging from $8 million to $10 million at the time of the opening of its SoHo boutique. Although the founders declined to comment on sales figures, industry sources estimate the brand’s global volume to be between $35 million and $50 million.
