Does L'Oréal have designs on another fashion designer? The cosmetics giant and Stella McCartney “have made the mutual decision not to renew their license agreement after the contract ends on Sept. 12, 2013,” L'Oréal announced. “As a result of their mutual decision, L’Oréal will focus on concentrating on its other brands, while Stella McCartney will pursue its fragrance and beauty business.”
A McCartney spokesman had no further comment.
L’Oréal acquired the Stella McCartney beauty business in May 2008, as part of the deal to take over YSL Beauté from the then-PPR for about $1.5 billion at current exchange.
McCartney’s other major beauty projects have included two fragrances, L.I.L.Y. and a signature scent.