10.22.19
Clarins is out of the fragrance business. L’Oréal and Clarins Group signed an agreement for the sale of the Mugler brands and Azzaro fragrances through the acquisition of the fragrance division of Clarins by L’Oréal. At the closing of the deal, this division will include the following companies: Mugler, Thierry Mugler (Fashion), Clarins Fragrance Group (CFG), CFG France, Cosmeurop and CFG UK. These activities represented approximately 340 million euros in sales last year (about $378 million at current exchange rates), according to L'Oréal.
The Clarins Group owns successful, international iconic fragrance brands and benefits from a recognized and valued know-how in the industry. Angel has revolutionized the market, Alien has built solid positions, Azzaro Pour Homme and Chrome are classics, and Wanted and Wanted Girl appeal to Millenials.
By joining L’Oréal, Mugler and Azzaro brands will pursue their international development while benefiting from the resources of the world’s beauty leader in marketing, distribution and innovation, according to L'Oréal. The purchase, subject to customary approvals, is expected to be completed Q1 2020.