Established by Isabelle Masson-Mandonnaud in 2007, CrazySticks have been billed as an innovative concept by providing perfume in a solid form, that is easily dispensed and doesn’t evaporate as quickly as conventional fragrance.
With the launch of the CrazySticks, the company created a new niche in the fragrance market, known as a ‘stroke of perfume’.
The brand is already distributed in France and selective developed markets worldwide under the two labels: CrazyLibellule and The Poppies – which has a selective distribution, and My perfume is a Twiststick – which is for mass market distribution.
Second financing initiative this year
The company says that the extra capital it has raised comes in addition to an initiative earlier this year when a majority controlling stake was acquired by Enex group back in April.
The latest cash injection will allow the company to reinforce and build on the initiatives already undertaken to develop its label in both the domestic and international markets.
At the end of 2008 the products were available in over 700 retail outlets worldwide, a figure the company is hoping to build on significantly by the end of this year, despite the economic down turn.
Expanding communications and marketing
In particular, the latest financial initiative will allow the company to concentrate on expanding its marketing and communication activities, building on what the company describes as ‘rapid growth of new products’.
“These two successive fund raisings are the sign of the interest investors take in Louise Enterprises, its brand and perfume,” said Masson-Mandonnaud.
She added that to further build on the company’s development it is already planning to implement a third fund raising initiative by the end of the year.