The Estée Lauder Companies has completed its acquisition of Le Labo, the premium French fragrance and sensory lifestyle brand.

Lauder says the new addition to its portfolio is well known for its emphasis on fine craftsmanship and personalization with both its products and services, although it did not disclose the purchase price.

Describing the new brand in a statement, Lauder said: “Founded in 2006 by fragrance industry veterans Fabrice Penot and Eddie Roschi, Le Labo provides a highly selective assortment of exceptional fragrance and sensory lifestyle products in minimalistic retail environments, including the brand’s freestanding stores in New York, London, Paris, Los Angeles, San Francisco, Tokyo and Hong Kong, as well as select prestige department stores in global flagship cities, and the brand’s website.”