Boucherons perfume line, which has won numerous awards including Best of Show at the Oscars and best-seller lists in France and around the world, is not the first time the French perfumer has fallen on hard times.
In 2009, he sold his company to French cosmetics giant LVMH for $1.7 billion, and in 2012, he was forced to sell his fragrance empire to the French state.
But the fall from grace was swift.
He was sued by a former customer who alleged that the perfumer had failed to provide his fragrance in the proper packaging and had been selling it to other companies.
In a statement, Boucher said that he and his wife “are taking this difficult moment in our lives very seriously, which is why we have decided to retire as a producer, with our family and our friends”.
“We are very sad that this has happened and we hope that it will not have an impact on our company and our company’s future,” he said.