Tru Fragrance & Beauty has taken a commanding share in Lake & Skye, expanding their investment from a minority stake held since 2018. The specifics of the financial arrangement have not been publicized. However, projections for the fragrance brand anticipate a sales milestone of USD 25 million by 2025.
Tru Fragrance & Beauty was bought by Monogram Capital Partners last year and is now looking to expand Lake & Skye’s products internationally, with a focus on the European and Australian markets.
Eric Bilenko, Tru Fragrance & Beauty’s CEO, described the acquisition as aligning perfectly with their investment criteria. He highlighted the brand’s strong market position, notable consumer appeal, and consistent sales growth, attributes that underscore its potential for continued success. Lake & Skye has nearly doubled its sales over the past year, signaling robust profitability and effective market engagement.