French cosmetics giant L'Oréal and Clarins group announced Monday the conclusion of its agreement for the sale of the Mugler brands and Azzaro fragrances to L'Oreal, according to a news statement from the two groups.
Groupe GM, a French specialist in the hotel welcome kit sector, is broadening its horizons, opening new overseas markets to further bolster its global presence following its entry in Hong Kong in 2018.
The French cosmetics giant has entered into negotiations with Clarins with a view to acquire the two perfume brands, as well as Mugler’s fashion business, an operation which would reinforce L’Oréal’s luxury division.
Wembley Park’s London Designer Outlet (LDO) will see two major openings in the next few weeks with on-trend brand Champion set to open its first UK outlet store there while Beauty Outlet will also open a large shop.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.