L'Oréal is in exclusive negotiations to acquire perfume brands Mugler and Azzaro from Clarins Group, the French beauty giant announced this morning.
“The perfume category is at the heart of our global strategy for growth at L'Oréal Luxe,” said Cyril Chapuy, President of 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."
L'Oréal has not confirmed the financial details of the planned acquisitions, other than that the deal is currently under discussion and subject to approval from regulators.
The purchase is expected to be completed later in the year.
L'Oréal’s prestige perfume has seen strong growth in recent years with the commercial success of Lancôme’s La Vie est Belle (one of the best-selling fragrances in Europe and the US) and Giorgio Armani’s Black Opium, Sì Passione and Acqua di Giò Absolu. The firm’s Luxe Division grew by 10% in 2018.
However, the brand owner has seen its mass brands category struggle last year, particularly in Western Europe.