Acquisition
YSL Beauté joins L'Oréal's Luxury Products Division
After obtaining the necessary authorisations from all the competition authorities, L'Oréal and PPR have signed the definitive agreement for the effective transfer of Yves Saint Laurent Beauté to L'Oréal.
YSL Beauté will be incorporated into the Luxury Products Division, under the responsibility of Marc Menesguen, President Luxury Products. He said: "We are delighted to welcome YSL Beauté and its brands, whose strong identities ideally complement our division’s brands. We are convinced that the support of our research and our strong international presence will enable them to increase their global reach. The strategic integration of YSL Beauté in our division strengthens our ambitions in the luxury cosmetics market."
To read the whole news release
June 30, 2008