Dr Vranjes Firenze has agreed to acquire Dr Vranjes Japan, making Japan its second most important market after Italy

Bluegem Capital Partners, the specialist pan-European private equity fund investing in consumer brands underpinned by non-discretionary demand and megatrend tailwinds, is pleased to announce the acquisition of Dr Vranjes Japan. The Japanese wholesale and retail business will be consolidated as part of the Dr Vranjes Group.

Dr Vranjes Firenze was founded in 1983 by Master Perfumer Dr Paolo Vranjes and has become the market leader of luxury home fragrances internationally, with Japan representing a strong and growing market. Already famous for its home fragrances, Dr. Vranjes has expanded its range to scented candles, car perfumes and most recently also to personal care. It now exports to 70 countries from its facility near Florence, with Japan representing the second largest market for the business.

Since Bluegem’s initial investment in 2017 Dr Vranjes has grown rapidly and continues to capture increased market share at home and abroad.  The business is projected to close 2022 with revenues of close to €40 million revenue, up from about €10 million at the time of the acquisition, representing a CAGR of over 25%.

CEO of Dr Vranjes Firenze Giuseppe Colotto said:

“The integration of the Japanese business into the Dr Vranjes Group is an important milestone on our continued rapid growth trajectory and brings an opportunity to accelerate growth in a region where the customer base is loyal and market share continues to grow.“

The seller further commented:

“Dr Vranjes is recognised as a great heritage brand in Japan and since establishing the business in Japan 15 years ago the brand has captured a significant share of the market.“

 About Bluegem Capital Partners LLP

Bluegem is a specialist private equity firm investing in non-discretionary brands underpinned by resilient demand and megatrend tailwinds.  Bluegem have an experienced Portfolio Team, working alongside the Investment Team, to offer a toolkit for accelerating business growth. This includes, among other things, 360 degree digitalisation of the businesses (including the use of artificial intelligence), international expansion (main focus on the USA) and product innovation.  With a track record of investing across Europe through different economic cycles, Bluegem focus on non-discretionary consumer segments benefiting from secular megatrends, including Beauty & Personal Care; Household Care; Food & Beverage; Baby Care; Pet Care and Health & WellnessMore information about Bluegem can be found at

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