L’Oréal Group is in exclusive negotiations with the Clarins Group to buy its brands of perfumes Mugler and Azzaro.

“The perfume category is at the heart of our global growth strategy at L’Oréal Luxe,” said Cyril Chapuy, president of L’Oréal Luxe. “These signatures, with a long history of fashion and olfaction, would perfectly complement our portfolio of brands.”

For Christian and Olivier Courtin-Clarins, respectively chairman of the supervisory committee and executive director of the Clarins Group, the idea is to focus on the full potential of our beauty business. ”

With the acquisition efetivation, Clarins fragrances, which registered sales of € 1.6 billion in 2018, would become part of L’Oréal’s fast-growing luxury division. L’Oréal has enjoyed strong growth in recent years with the successful sales of its Lacome and Giorgio Armani brands, a growth of 10% last year.

Financial details were not disclosed. The purchase is expected to be completed by the end of the year, pending regulatory approval.