L'Oreal is bolstering its scent portfolio with the acquisition of the Mugler brands and Azzaro fragrances.
The beauty giant has reached a deal with Groupe Clarins to acquire the following companies: Mugler, Thierry Mugler (Fashion), Clarins Fragrance Group (CFG), CFG France, Cosmeurop and CFG UK.
According to L'Oreal and Groupe Clarins, the activities represented approximately €340mil (RM1.5bil) in sales in 2018.
The Mugler fragrance brand is known for the successful perfume pillars "Angel", which was first launched in 1992, and "Alien", which followed in 2005. The acquisition of the Thierry Mugler brand also marks L'Oreal's return to the fashion business.
The Azzaro scent portfolio, meanwhile, includes "Azzaro Pour Homme", which was launched in 1978, and "Chrome", which was first rolled out in 1996. Recent additions include the fragrances "Wanted" and "Wanted Girl".
When the news of the negotiations between the two companies was confirmed back in July, Clarins said that a deal with L'Oreal would allow the group to double down on its makeup and skincare empire.
"By focusing on its iconic brand and its historic business, Clarins would be able to accelerate the development of the Beauty division by increasing its international presence (in the Chinese market in particular), strengthening its leading position in skincare and make-up, and amplifying its digital and omni-channel transformations," the company stated at the time, via a news release.
"Clarins, which is already a major skincare player worldwide, would become an umbrella brand for a comprehensive well-being philosophy."
The deal is expected to be completed within the first quarter of 2020.
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