THE WHAT? Matiere Premiere has closed a second funding round, with Kering Beaute named among the investors. The niche French fragrance brand did not disclose financial terms of the deal but Kering is said to have taken a minority stake in the company.

THE DETAILS According to a report published by WWD, the two companies’ values and long-term vision align. The new pot will be used to expand Matiere’s bricks and mortar presence, including the opening of the brand’s first standalone store in Paris later this year.

THE WHY? Caius von Knorring, CEO of Matiere Premiere told WWD, “We are entering a new phase of our development. Matiere Premiere has been growing extremely fast.” The brand is aiming to open 20 boutiques with locations in London, Germany, the US, Middle East and China.