L’Oreal executives are in talks to buy the Mugler and Azzaro brands from Clarins Group.
On Tuesday, bosses from the French cosmetics giant announced they had entered into exclusive negotiations with leaders from Clarins with a view to acquiring both companies.
“The perfume category is at the heart of our global strategy for growth at L’Oreal Luxe,” Cyril Chapuy, president of L’Oreal Luxe, said in a statement. “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.”
At present, the Clarins Group develops both the Mugler and Azzaro houses globally. The deal remains some time from completion, as the acquisition will be subject to consultation with employee representatives and the approval of the regulatory authorities, though Chapuy noted that it should be completed by the end of the year. L’Oreal did not disclose any financial details.
French fashion designer Thierry Mugler first approached Clarins about making a perfume in the early 1990s, with Angel launching in 1992.
The scent contains a combination of praline and chocolate mixed with a strong accord of patchouli and has since led to the creation of many other versions, while Mugler unveiled his second major fragrance, Alien, in 2005, and his third pillar scent, Aura, in 2017.
While late designer and perfumer Loris Azzaro, who founded his namesake company in 1967, is known for Azzaro pour Homme, which was launched in 1978 and designed to appeal for women.
Azzaro is also known for Chrome, a woody fragrance characterised by an aquatic freshness, and 2016’s Azzaro Wanted, a woody spicy hesperidia scent with captivatingly elegant lingering notes.
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