Perfume Retailer 10ML Secured €35 Million Expansion
The decanting startup will scale its European operations after hitting a €10 million annual revenue run rate.
Updated on Oct. 14, 2026 in Retail
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10ML has reached 100,000 customers and a €10 million annual revenue run rate. The retailer, which decants perfumes from 89 designer houses, is now committing €35 million toward inventory, technology, and further European expansion.
Why it matters
The investment aims to position 10ML as the largest perfume retailer in Europe by scaling its reach across 26 countries. By controlling the decanting process, the company seeks to capture market share from traditional retail models.
10ML reached a €10 million annual revenue run rate and 100,000 customers, with a new €35 million investment planned for the next three years. The firm currently offers 1,059 original perfumes sourced from 89 designer and niche houses.
The players
10ML
A perfume retailer based in Dortmund, Germany, that sources and decants original fragrances from designer and niche houses for the European market.
The details
10ML operates by purchasing products from authorized EU distributors and directly from brands before manually decanting them for sale. The business model utilizes AI and technology to manage inventory and logistics across 10 languages and 26 EU countries. Operations are currently headquartered in Dortmund, Germany, where the company recently piloted an AI-driven perfume decanting pop-up.
Timeline
2025: 10ML was founded in Dortmund, Germany.
October 8, 2026: The company conducted price research on Lancôme products.
October 14, 2026: 10ML announced its revenue milestones and investment plan.
Market Landscape
10ML's growth follows the broader industry trend of scaling niche decanting services into institutionalized, mass-market retail operations. The company is positioning itself to challenge traditional full-bottle fragrance retail by leveraging technology and accessibility.
Operators in the fragrance and personal care space should monitor 10ML's expansion into France, Barcelona, and Milan as a signal of shifting consumer preferences toward decanted product models. Management teams should evaluate how localized AI-driven inventory systems impact their own overhead and regional price competitiveness.
The takeaway
The firm is betting that AI-supported decanting can bridge the price gap for luxury goods across diverse European markets. Operators should track 10ML's success in managing the 85% median price difference often found in the secondary perfume market.
Further reading
For more on evolving consumer buying patterns and supply chain shifts, see our Retail section.
More information
View the current catalog and operational updates on the 10ML perfume retailer website.
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Is buying perfume samples from third-party retailers a good way to save money?
