L’Oréal confirms it has entered in exclusive negotiation with the Clarins Group in view to acquire the brands Mugler and Azzaro, two iconic fragrance houses globally.
“The perfume category is at the heart of our global strategy for growth at L’Oréal Luxe. In this context, we would be thrilled to welcome Mugler and Azzaro: these signatures, with a long history in fashion and olfaction, would perfectly complete our portfolio of brands,” said Cyril Chapuy, President L’Oréal Luxe
The acquisition under discussion will remain subject to consultation with employee representatives and the approval of the regulatory authorities. It should be completed in the course of 2019.