Laura Slatkin, the founder and executive chairman of Nest New York, is stepping away from day-to-day operations, the fragrance brand said Wednesday. She will continue to serve on the company’s board of directors.

“After a rewarding and successful journey, Laura has decided to focus on new entrepreneurial pursuits,” said a companywide memo viewed by WWD.

A pioneer in the home fragrance category since the 1992 launch of Slatkin & Co., Slatkin launched Nest home fragrances in 2008, followed five years later by a collection of eau de parfum. 

“I’m incredibly proud of what we’ve accomplished together — creating award-winning fragrances and expanding into new categories with innovation that elevates everyday life,” said Slatkin in a statement. “Building a brand that resonates so deeply with consumers has been an honor. As an entrepreneur at heart, the time feels right to explore new passions and move into my next chapter. I do so with confidence and excitement, knowing the Nest team is positioned to take the brand to even greater heights.”

Today, the Nest universe encompasses scented candles, diffusers, and bath and body products, as well as perfume and scented oils. Most recently, it debuted Voyages by Nest, a collection of fine fragrances, perfume oils, diffusers and candles. Before that, Nest rolled out its fine fragrances to over 800 Ulta Beauty stores.

All this has paid off with the business having grown to over $200 million in retail sales in the U.S. and investors have taken notice. 

In 2022, private equity firm North Castle Partners acquired a majority stake in Nest from Eurazeo, in a transaction that valued the company at $200 million. (Both Eurazeo and Slatkin retained minority positions.) 

The following year Nest named Coty veteran Edgar Huber chief executive officer, taking the reins from Maria Dempsey, who departed the company for a new opportunity.

“Laura’s passion and vision built the foundation of Nest New York,” said Huber. “We will continue her legacy of creating sophisticated, nuanced and beloved fragrances as we grow globally. We’re immensely grateful for her extraordinary contributions and wish her all the best in her next chapter.”