L'Oréal is reportedly kickstarting its potential acquisition of the late Giorgio Armani’s beauty empire, following the founder's death in September 2025.
Speaking during a ‘Fireside Chat’ with analysts on 1 December, published by L’Oréal Finance, CFO Christophe Babule said the acquisition of Armani is “definitely” being looked at by the French beauty giant.
It will start working on this deal “very soon”, said Babule, who added: “We are quite honoured by the consideration of the heirs of the family towards their willingness to see L'Oréal investing in their company.
“I cannot disclose more today, but this is the kind of thing you have to look at if you are a leader like L'Oréal in luxury beauty.”
Following the death of Giorgio Armani in September, the designer’s fashion and beauty empire was put up for sale – with L'Oréal, LVMH and Luxottica being named as preferred buyers.
The trio of luxury beauty and fashion businesses were mentioned in Giorgio Armani’s will, published on 12 September, as the Armani Group begins a gradual sale of its assets.
Some 15% of the company’s stake must be sold within a year-and-a-half of the designer's death, the will read.
A further 30% to 54.9% expected to be sold to the same buyer within five years.
Armani was the sole stockholder in the Armani Group prior to his death on 4 September, aged 91.
He built a fashion and beauty empire worth more than £10bn, including a number of brands such as Emporio Armani, A|X Armani Exchange and Armani Privé.
Giorgio Armani joined forces with L’Oréal Groupe in 1988 to license beauty products under the brand name.
This saw the pair develop a line of make-up, skin care and fragrance inspired by the vision of the late designer.
The potential Armani deal comes hot on the heels of announcing a blockbuster €4bn deal with Kering to acquire the luxury fashion group’s beauty business.
In an update provided during the French beauty player’s Q3 financial results in October, CEO Nicholas Hieronomis said the Kering deal does not derail a potential tie-up with the potential acquisition of Armani.
Backing up this sentiment further during the ‘Fireside Chat’, Babule said: “Maybe one word about Kering, because I think it is important that we are all aware about this important deal.
“Sometimes people refer [to] Creed, which is [only] one of the brands, [and] I think what is very important for you to assess is that it is a strategic move, because basically [acquiring] two big groups.
“One that is bringing fashion, the other is bringing its expertise in beauty and putting together the best they do for strong value creation in the future.
“It is obvious that when you consider the brands joining the portfolio of the Luxe division, those are strong additions for the long-term development of the division.”
Babule spoke to L’Oréal’s strong capital, and the low to no-risk in acquiring the brands held under Kering’s beauty division, which “will not prevent L'Oréal from going further if we have good opportunities”.
This comes off the back of L'Oréal acquiring hair care brand Color Wow in September, and the acquisition of UK skin care brand Medik8, first announced in June.
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