L’Oréal signs licence agreement with Valentino

L’Oréal has entered a global licence agreement with Valentino to develop and distribute fragrances and beauty products.

The deal is subject to customary regulatory approvals and will come into force staring 1 January next year.

L’Oréal deputy CEO Nicolas Hieronimus said: “We are thrilled to have been granted the licence of Maison Valentino.

“With its unique combination of prestige and modernity, Valentino definitely will appeal to millennial consumers around the globe and ideally complements our brand portfolio.”

Headquartered in Rome, Valentino was founded by Valentino Garavani and Giancarlo Giammetti. It offers various fragrance brands, including Valentino Donna, Valentino Uomo and Valentina, as well as various products under the Haute Couture, Prêt-à-Porter and Valentino Garavani brands.

The company operates 175 boutiques and more than 1,500 point-of-sale outlets in 100 countries.

Valentino CEO Stefano Sassi said: “We are very excited to start this new venture together with L’Oréal to further develop our beauty business.

“We believe Valentino has great potential within the category and that with L’Oréal’s unparalleled expertise in the sector, we will be able to realise that potential.”

L’Oréal offers a range of 34 brands, which are available across a wide range of distribution networks, including department stores, pharmacies and drugstores, as well as hair salons, branded retail and e-commerce.