French cosmetics giant L’Oréal on Tuesday revealed it has entered negotiations to buy the popular Mugler and Azzaro perfume brands from rival Clarins.
The exclusive talks could result in the two labels joining L’Oréal ’s fragrances portfolio, which also comprises products from Lancôme and Yves Saint Laurent, before the end of 2019.
The fragrances line of French fashion designer Thierry Mugler includes Angel and Alien and has been owned by Clarins since 1992. Clarins has owned the Azzaro business since 1995.
No price was given for the deal which Cyril Chapuy, president of L’Oreal’s luxury division, said would “perfectly complete” its collection of brands.
Clarins said the fragrances industry has become more competitive and the sale would enable the perfumes to continue to grow under new ownership.
Christian and Olivier Courtin-Clarins, respectively president of the supervisory board and managing director of the Clarins Group, said: “We know that if the project goes through, our two brands will enjoy optimal conditions as part of L’Oréal Luxe, which will guarantee their future growth, benefiting our employees.”
Clarins is looking to focus on its skincare and make-up businesses, and expanding in the Chinese market.
