L’Oréal and Valentino have announced a worldwide, long-term license agreement.
The agreement, effective Jan. 1, 2019, will see the creation, development and distribution of fine fragrances and luxury beauty. The luxury fashion brand’s current fragrances include Valentino Donna, Valentino Uomo and Valentina.
“We are very excited to start this new venture together with L'Oréal to further develop our beauty business,” said Valentino CEO Stefano Sassi. “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 realize that potential.”
Added Nicolas Hieronimus, deputy CEO of L’Oréal: “We are thrilled to have been granted the license 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.”