Clichy, Milan - Thursday 22 March 2018
L'OrÃ©al and Armani announce today the signature of an agreement to renew their license until 2050.
Founded in Milan in 1975 by Mr. Giorgio Armani, the iconic Italian fashion house is recognized for its great elegance and the perfection of its style. It attracts demanding and refined luxury customers from all over the world.
Since 1988 L'OrÃ©al, the worldwide beauty leader, develops through its Luxury Division high-end lines of perfumes, skin care and make-up, benefiting from the inspiration and vision of Mr. Armani. These lines are showing one of the strongest growth in the beauty category generating revenues of over one billion Euros in 2017.
"The renewal of our agreement with Armani demonstrates our confidence in the success of this partnership which has proven its strength and coherence during all these years",Â saysÂ Jean-Paul Agon, Chairman and CEO of L'OrÃ©al. "There is a real synergy between the savoir-faire of L'OrÃ©al and the exceptional creative inspiration of Giorgio Armani, which contribute to make Armani one of the most beautiful and dynamic beauty brands in the world".
"The collaboration with L'OrÃ©al is one of the first licenses in our portfolio. We are very pleased to renew our agreement thus consolidating a very successful partnership. L'OrÃ©al's mission and high professionalism have always been aligned with the dynamic and creative spirit that is the core of my philosophy, and over the years our mutual trust has constantly generated excellent results"Â saidÂ Giorgio Armani, President of the Armani Group.
L'OrÃ©al has devoted itself to beauty for over 100 years. With its unique international portfolio of 34 diverse and complementary brands, the Group generated sales amounting to 26.02 billion euros in 2017 and employs 82,600 people worldwide. As the world's leading beauty company, L'OrÃ©al is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail, branded retail and e-commerce.
Research and innovation, and a dedicated research team of 3,885 people, are at the core of L'OrÃ©al's strategy, working to meet beauty aspirations all over the world. L'OrÃ©al's sustainability commitment for 2020 "Sharing Beauty With All" sets out ambitious sustainable development objectives across the Group's value chain.
For more information: http://mediaroom.loreal.com/en/
The Armani Group is one of the leading fashion and luxury goods companies in the world. The Group designs, manufactures, distributes and directly retails fashion and lifestyle products that, following the recent redefinition of the brand portfolio, currently focus on Giorgio Armani, Emporio Armani and A|X Armani Exchange.
"This news release does not constitute an offer to sell, or a solicitation of an offer to buy L'OrÃ©al shares. If you wish to obtain more comprehensive information about L'OrÃ©al, please refer to the public documents registered in France with the AutoritÃ© des MarchÃ©s Financiers, also available in English on our Internet siteÂ www.loreal-finance.com.
This news release may contain some forward-looking statements. Although the Company considers that these statements are based on reasonable hypotheses at the date of publication of this release, they are by their nature subject to risks and uncertainties which could cause actual results to differ materially from those indicated or projected in these statements."
Contacts at L'OrÃ©al
Individual shareholders and market authorities
Mr Jean RÃ©gis CAROF
Tel.: +33 1 47 56 83 02
Tel.: +33 1 47 56 70 00
Contacts Armani Press Office
Tel: + 39 02 72318 893