PARIS — L’Oréal is delving deeper into the designer fragrance category after having signed an agreement to acquire the Mugler brands and Azzaro fragrances from Groupe Clarins.
The activities — including Mugler, Thierry Mugler (fashion), Clarins Fragrance Group (or CFG), CFG France, Cosmeurop and CFG U.K. — generated about 340 million euros of sales last year, L’Oréal and Groupe Clarins said on Monday after the close of the Paris bourse.
Financial terms of the deal, which should be complete in the first quarter of 2020, were not disclosed.
In early July, it was announced that the world’s largest beauty company was in exclusive talks to acquire the Mugler fashion and fragrance brand, and the Azzaro fragrance brand and accessories.
The sale will mark Groupe Clarins’ exit from the perfume and ready-to-wear markets, so it can focus on skin care.
Mugler’s portfolio of perfumes includes the blockbuster Angel women’s scent, which pioneered the gourmand olfactive family when it launched in 1992, and Alien, that’s now an even a bigger bestseller. Azzaro — whose fragrance activity joined Groupe Clarins in 1995 — boasts classics such as Azzaro Pour Homme and Chrome, and Wanted and Wanted Girl, targeting younger consumers.
The Azzaro fashion business is run separately, by Reig
The activities — including Mugler, Thierry Mugler (fashion), Clarins Fragrance Group (or CFG), CFG France, Cosmeurop and CFG U.K. — generated about 340 million euros of sales last year, L’Oréal and Groupe Clarins said on Monday after the close of the Paris bourse.
Financial terms of the deal, which should be complete in the first quarter of 2020, were not disclosed.
In early July, it was announced that the world’s largest beauty company was in exclusive talks to acquire the Mugler fashion and fragrance brand, and the Azzaro fragrance brand and accessories.
The sale will mark Groupe Clarins’ exit from the perfume and ready-to-wear markets, so it can focus on skin care.
Mugler’s portfolio of perfumes includes the blockbuster Angel women’s scent, which pioneered the gourmand olfactive family when it launched in 1992, and Alien, that’s now an even a bigger bestseller. Azzaro — whose fragrance activity joined Groupe Clarins in 1995 — boasts classics such as Azzaro Pour Homme and Chrome, and Wanted and Wanted Girl, targeting younger consumers.
The Azzaro fashion business is run separately, by Reig