According to a report on Reuters, French luxury goods company LVMH has agreed to buy a majority stake in French independent perfume house Maison Francis Kurkdjian. Details were not disclosed.

Maison Francis Kurkdjian was founded in 2009 by perfumer Francis Kurkdjian and its Chief Executive Officer Marc Chaya. The brand, which sells its perfumes for as high as $1,000 a pop, generates approximately $20 million in sales annually, according to Reuters.

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