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CLARINS ENGAGED IN EXCLUSIVE NEGOTIATIONS WITH L’OREAL REGARDING THE SALE OF ITS FRAGRANCES & FASHION DIVISIONS

 
Paris, July 2, 2019.
 
The Clarins Group has announced it is engaged in exclusive negotiations with the L’Oréal Group regarding the sale of its Fragrances & Fashion divisions, including the brands Mugler and Azzaro.
 
This project fulfils the Clarins Group’s ambition to ensure its Beauty business reaches its full potential, while entrusting the Mugler and Azzaro brands to global beauty leader L’Oréal.
The Clarins Group owns iconic perfume brands and is recognized and valued for its expertise in the field: Angel revolutionized the market, Alien is a bestseller, Azzaro Pour Homme and Chrome are classics, and Wanted and Wanted Girl have introduced the Azzaro brand to younger consumers. The Group’s Fashion business is a source of inspiration for the development of the Mugler brand.
 
The fragrances industry has changed dramatically in recent years to become one of the most competitive and demanding markets in terms of marketing investment and critical mass. This project would enable the Mugler and Azzaro brands to continue to grow amid these new conditions.
 
By focusing on its iconic brand and its historic business, Clarins would be able to accelerate the development of the Beauty division by increasing its international presence (in the Chinese market in particular), strengthening its leading position in skincare and make-up, and amplifying its digital and omni-channel transformations. Clarins, which is already a major skincare player worldwide, would become an umbrella brand for a comprehensive well-being philosophy.
 
“Our group shares strong values with L’Oréal, including a long-term vision and a management style that is respectful of employees. These similarities have played a significant role in our project to entrust Mugler and Azzaro to the French group and global beauty leader. We know that if the project goes through, our two brands will enjoy optimal conditions as part of L’Oréal Luxe, which will guarantee their future growth, benefiting our employees. We would thus be in able to focus on ensuring our Beauty division reaches its full potential,” declared Christian and Olivier Courtin-Clarins, respectively President of the Supervisory Board and Managing Director of the Clarins Group.
 
The project will be submitted to the Staff Representative Bodies (IRPs) at both Clarins and L’Oréal. The sale could be finalized by the end of 2019.
 
About the Clarins Group
The Clarins Group is a major international player in the beauty, fragrances and fashion industries. Present in 141 countries with 28 subsidiaries worldwide, Clarins employs 10,000 people.
 
The Beauty division includes the Clarins brand—a global skincare and make-up leader—as well as the My Blend brand and the Spa business. The fragrance brands (Mugler and Azzaro Parfums) belong to Clarins Fragrance Group (CFG), while the Fashion business operates under Mugler SA. The fragrances are manufactured in Strasbourg by Cosmeurop.
Loyal to its founder’s philosophy, the Clarins Group has its own Research & Development laboratories. The group manufactures all its skincare products and fragrances in France and exports over 90% of production.
 
Press contacts: clarins@image7.fr

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