Today (February 18), it was reported that Borntostandout, a luxury perfume brand headquartered in Seoul, South Korea, has completed its Series A funding round. This round of financing was led by venture capital firm Touch Capital and L’Oréal’s venture capital fund BOLD. The funds raised will help Borntostandout accelerate its offline expansion, particularly in Europe and the United States.
According to reports, Borntostandout was launched in 2022 and offers perfume products such as Drunk Maple and Angels’ Powder, inspired by elements like maple syrup and gasoline. Its latest release is Extrait Extrême. Currently, Borntostandout is sold in over 60 countries, with a flagship store in Seoul, and products available in about 15 perfume stores, including Luckyscent and Ministry of Scent, as well as 10 concept stores. The U.S. market accounts for 10% of the brand’s total business.
Regarding the funding, the founder and managing director of Borntostandout stated that the brand will benefit from L’Oréal’s expertise in global brand building, while Touch Capital will provide strategic insights to strengthen the brand’s position in international markets.
Additionally, earlier this month, L’Oréal acquired a long-term minority stake in Amouage, a luxury perfume brand headquartered in Oman, Middle East. It’s worth mentioning that L’Oréal has been very active in the fragrance sector in recent years. For instance, in 2023, L’Oréal’s makeup brand 3CE launched its first perfume collection, “Atmospheric Sense,” tapping into the growing olfactory economy to explore new brand growth. In 2024, L’Oréal secured the rights to the luxury brand Miu Miu, to develop, produce, and sell perfumes and beauty products, with the first fragrance collection expected to be released in 2025.
Furthermore, in 2024, L’Oréal also invested in two Chinese fragrance brands, DOCUMENTS and To Summer. This clearly shows that L’Oréal is actively seeking growth opportunities in the fragrance market and continues to focus on high-end perfume segments.
