L'Oréal finalizes the acquisition of the Mugler brands and Azzaro fragrances
Clichy, 31 March 2020 - After obtaining the necessary authorizations from the relevant authorities, L’Oréal has finalized the acquisition of the Mugler brands and Azzaro fragrances from Clarins Group, in accordance with the terms announced on 21 October 2019.
Cyril Chapuy, President L’Oréal Luxe, said : “We look forward to welcoming the Mugler and Azzaro teams to the L’Oréal family, and to accompagnying them, especially in this difficult time.”
L’Oréal has devoted itself to beauty for over 100 years. With its unique international portfolio of 36 diverse and complementary brands, the Group generated sales amounting to 29.87 billion euros in 2019 and employs 88,000 people worldwide. As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 4,100 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world. L’Oréal’s sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain.
More information: https://mediaroom.loreal.com
“This press release is not a sales offer or a request for a bid to purchase L’Oréal shares. If you would like more detailed information about L’Oréal, please see the public documents that have been submitted in France to the Financial Markets Authority, which are also available in English on our website www.loreal-finance.com.
This press release may contain certain provisional statements. Although the Company believes that these statements are based on reasonable assumptions on the date this press release was published, they are, by nature, subject to certain risks and uncertainties that may result in a discrepancy between the actual figures and those indicated or implied in these statements.”
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