L'Oréal and Armani have announced today the signature of an agreement to renew their license until 2050.
L'Oréal, through its Luxury Division, has been developing fragrances, skincare and makeup for the iconic Italian fashion house since 1988. These lines show strong growth in the beauty category and generated revenues of over one billion Euros in 2017.
Jean-Paul Agon, Chairman and CEO of L'Oréal, comments, "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. There is a real synergy between the savoir-faire of L'Oréal 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".
Giorgio Armani, founder and President of the Armani Group, adds, "The collaboration with L'Oréal is one of the first licenses in our portfolio. We are very pleased to renew our agreement thus consolidating a very successful partnership. L'Oréal'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."
Photo: The best-selling Giorgio Armani Lip Magnet Liquid Lipstick and the iconic SÌ Eau De Parfum, in an engravable bottle.