Fast-growing luxury pastry maker Pierre Hermé plans to expand in North America and China, helped by the arrival of a new minority shareholder backed by cosmetics group L'Occitane, its chief executive said.
The deal is the latest sign of growing investor interest in luxury food, which has been enjoying solid growth, buoyed by local and tourist demand.
Pierre Hermé, the company co-founded by the French chef known for his audacious flavour mixes and macarons, has seen sales rise fivefold in the past five years to 50 million euros ($54 million). It runs as many stores today in Japan as in France.
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