Investors' buyout driven by scent of opportunity

INVESTMENT groups NVM and eComplete have announced a £31m management buyout of North East fragrance business Noted Aromas.

- GRAEME WHITFIELD

Noted Aromas is a direct-to-consumer brand operating in the rapidly growing fragrance market. It sells 'inspired by' products based on the smell of well-known perfumes and other fragrances.

The business was founded by Thomas Gibson, who ran it with his brother James. It offers cheaper fragrance products sold through its own website, taking care not to pretend to be the real versions through the use of plain packaging and explanations that its brands are inspired by fragrances of larger luxury brand companies.