L'Oréal completes acquisition of Mugler, Azzaro perfumes
Mugler and Azzaro perfumes are now officially part of the L'Oréal group's brand portfolio. On October 21 2019, the French cosmetics giant announced an agreement with Clarins to buy the two long-established French fashion and perfume brands. The deal has now been finalised.
“We are delighted to welcome in the L’Oréal family the staff of Mugler and Azzaro, who are now with us. We will do our best to take care of them at this very difficult time,” said Cyril Chapuy, president of L'Oréal Luxe, in a brief press release issued on March 31.
The fragrance division of Clarins recorded revenue of €340 million in 2018. The companies sold by Clarins to L’Oréal as part of the transaction include Mugler, Thierry Mugler (the fashion label), the Clarins Fragrance Group (CFG), CFG France, CFG UK and Cosmeurop.
The L'Oréal group owns a global portfolio of 36 brands, and it generated revenue of €29.87 billion in 2019.
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