L’Oréal has announced that it has signed an agreement to acquire the Mugler and Azzaro fragrance brands from Clarins. Terms of the deal, which is expected to complete in the first quarter of next year were not disclosed.
The deal covers Clarins’ entire fragrance division, which includes Mugler, Thierry Mugler, Clarins Fragrance Group (CFG), CFG France, Cosmeurop and CFG UK. The unit pulled in sales of €340 million in 2018.
“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,” the French beauty giant said in a statement.