Dr. Vranjes Firenze
A Leading Luxury Home Fragrance Brand
Case study
Opportunity
In 2017, Bluegem identified Dr. Vranjes as a differentiated brand in the luxury home fragrance market, a fast growing niche of the market.
The company had strong growth potential but no online presence and limited international exposure.
Solution
ENRICH HUMAN CAPITAL
We have transformed the company from full founder management to a professional leadership team, including the hiring of CEO, CFO and several managers.
DRIVE PRODUCT INNOVATION
Innovation of gift formats and gift boxes, and launch of product ranges such as Car diffuser (June 2021) and Personal fragrance (late 2021).
DIGITAL TRANSFORMATION
Re-platformed and redesigned ecommerce offering, which drove online sales from 0% to 30%.
IMPROVE FINANCIAL PERFORMANCE
We have implemented a structure to continue fast-paced trajectory in the coming years.
INTERNATIONAL EXPANSION
Tremendous growth in the Middle East and China
Successful relaunch in the US
BUY AND BUILD
Bought Dr Vranjes Japan, making Japan its second largest market after Italy.
Results
>3.7x
Sales grew
>3.2x
EBITDA increased