L'Oréal Groupe signs an agreement for an exclusive worldwide
licence agreement with Miu Miu
L’Oréal Groupe and Prada S.p.A announced today the signature of
a worldwide long-term license agreement for the creation,
development, and distribution of the luxury beauty products for the
Miu Miu brand. Following the successful collaboration with Prada
brand, Miu Miu is now joining the L’Oréal Luxe division for a new
beauty chapter.
Miu Miu was born in 1993 from the independent and unconventional
spirit of Miuccia Prada. Since then, this unique luxury brand has
been the incarnation of experimental creativity in fashion.
With a light but always sophisticated touch, Miu Miu leads
fashion, representing the courage to take risks, a razor-sharp
instinct to respond to shifts in contemporary fashion and culture.
The brand is an infinite source of inspiration for beauty and will
resonate with an emancipated, sophisticated and conscious audience.
This partnership marks the sign of a new era of interpretation of
the beauty facet of the brand.
The first fragrances under L’Oréal are expected to be launched
in 2025. The agreement will be effective after customary regulatory
approvals, if any.
Cyril Chapuy, President of L'Oréal Luxe
comments: “Over the past years, we have successfully established a
very strong partnership with Prada teams. We are now thrilled to
welcome Miu Miu and unleash together its outstanding potential in
beauty. With its unique positioning, fueled by limitless creativity
and experimentation, Miu Miu will perfectly complement L’Oréal
Luxe’s portfolio of iconic brands and reinforce our worldwide
leadership in Fragrances.”
Benedetta Petruzzo, Miu Miu CEO comments: “We
are excited to announce this partnership with a distinctive and
leading beauty player such as L’Oréal. This new chapter will
sustain the brand’s growth and help to further untap Miu Miu’s full
potential in the category.”
About L’Oréal For 115 years,
L’Oréal, the world’s leading beauty player, has devoted itself to
one thing only: fulfilling the beauty aspirations of consumers
around the world. Our purpose, to create the beauty that moves the
world, defines our approach to beauty as essential, inclusive,
ethical, generous and committed to social and environmental
sustainability. With our broad portfolio of 37 international brands
and ambitious sustainability commitments in our L’Oréal for the
Future programme, we offer each and every person around the world
the best in terms of quality, efficacy, safety, sincerity and
responsibility, while celebrating beauty in its infinite plurality.
With more than 90,000 committed employees, a balanced geographical
footprint and sales across all distribution networks (e-commerce,
mass market, department stores, pharmacies, perfumeries, hair
salons, branded and travel retail), in 2023 theGroup generated
sales amounting to 41.18 billion euros. With 20
research centers across 11 countries around the world and a
dedicated Research and Innovation team of over 4,000 scientists and
6,400 Digital talents, L’Oréal is focused on inventing the future
of beauty and becoming a Beauty Tech powerhouse. More information
on https://www.loreal.com/en/mediaroom
About Prada Group
Pioneer of a dialogue with contemporary society across diverse
cultural spheres and an influential leader in luxury fashion, Prada
Group founds its identity on essential values such creative
independence, transformation, and sustainable development, offering
its brands a shared vision to interpret and express their spirit.
The Group owns some of the world’s most prestigious luxury brands,
Prada, Miu Miu, Church's, Car Shoe, the historic Pasticceria
Marchesi and Luna Rossa, and works constantly to enhance their
value by increasing their visibility and appeal. The Group designs,
manufactures and distributes ready-to-wear collections, leather
goods and footwear in more than 70 countries through a network of
603 stores (at June 30, 2023) as well as e-commerce channels,
selected e-tailers and department stores around the world. The
Group, which also operates in the eyewear and beauty sector through
licensing agreements, has 24 owned factories and 14,085 employees.
For more information, please visit www.pradagroup.com
“This press release does not constitute an offer of sale or
solicitation of an offer to purchase L'Oréal shares. If you wish to
obtain more comprehensive information about L'Oréal, please refer
to the public documents registered in France with the Autorité des
Marchés Financiers, also available in English on our website
www.loreal-finance.com.
This press release may contain forecast information. While the
Company believes that these statements are based on reasonable
assumptions as of the date of publication of this press release,
they are by nature subject to risks and uncertainties which may
lead to a discrepancy between the actual figures and those
indicated or suggested in these statements.”
L’ORÉAL CONTACTS
Switchboard +33 (0) 1 47 56 70 00
Individual shareholders and market authorities
Pascale Guerin +33 (0)1 49 64 18 89 pascale.guerin@loreal.com
Investor relations Eva Quiroga +33 (0)7
88 14 22 65 eva.quiroga@loreal.com
Journalists Brune Diricq +33 (0)6 63 85 29 87
brune.diricq@loreal.com
Christine BURKE +33 (0)6 75 54 38 15
Christine.burke@loreal.com
For more information, please contact your bank, broker or
financial institution (I.S.I.N. code: FR0000120321), and consult
your usual newspapers, the website for shareholders and investors,
www.loreal-finance.com or the L’Oréal Finance app; alternatively,
call +33 (0)1 40 14 80 50.
This press release has been secured and authenticated with
blockchain technology. You can verify its authenticity on the
website www.wiztrust.com
- PR_ L'ORÉAL GROUPE SIGNS AN AGREEMENT FOR AN EXCLUSIVE
WORLDWIDE LICENCE AGREEMENT WITH MIU MIU
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