L’Oréal and Clarins Group have signed an agreement for the sale of the latter’s Mugler brands and Azzaro fragrances through L’Oréal acquiring Clarins’ fragrance division.
The announcement was expected after L’Oréal Luxe President Cyril Chapuy said during the group’s first-half results that an agreement was likely before year-end.
At the closing of the deal, the division will include the following companies: Mugler, Thierry Mugler (Fashion), Clarins Fragrance Group (CFG), CFG France, Cosmeurop and CFG UK. These activities generated sales of approximately €340 million in 2018.
The Clarins Group owns several successful, international fragrance brands and benefits from a recognised and valued knowhow in the industry, L’Oréal said. It commented: “Angel has revolutionised the market, Alien has built solid positions, Azzaro Pour Homme and Chrome are classics, and Wanted and Wanted Girl appeal to Millenials.
“By joining L’Oréal, Mugler and Azzaro brands will pursue their international development while benefiting from the resources of the world’s beauty leader in marketing, distribution and innovation.”
The acquisition is subject to standard conditions precedent and should be completed within the first quarter of 2020 after customary regulatory approvals.
