Valentino inks licence deal for fragrances and beauty products with L'Oréal
The L’Oréal group and Valentino have recently signed a long-term licence contract for the creation, development and distribution of luxury fragrances and beauty products under the Valentino brand. In a press release, they stated that the contract will come into effect on 1st January 2019, after the ”customary regulatory approvals, if any.”
Since 2010, the luxury Roman fashion label’s cosmetics products were developed by Catalan group Puig, which had taken over from Procter & Gamble.
Nicolas Hieronimus, Deputy CEO of L’Oréal, said “We are thrilled to have been granted the license
of Maison Valentino. With its unique combination of prestige and modernity, Valentino definitely will appeal to millennial consumers around the globe and ideally complements our brand portfolio.”
Valentino was founded in 1960 by Valentino Garavani and Giancarlo Giammetti in Rome, and in 2012 it was acquired by the Qatari royal family’s investment firm Mayhoola. The label is distributed via 175 directly owned stores and 1,500 multibrand retailers in some 100 countries. In 2017, it generated a revenue of €1.164 billion, up 5%.
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