Acquisition of Perfume Brand Mugler by L'Oreal Group

L’Oreal Group, the largest group specializing in beauty cosmetics, announced on Monday that it has reached an agreement with Groupe Clarins on acquisition of Mugler and Azzaro — perfume brands of Groupe Clarins, which will be completed as expected in the first quarter of 2020, while details have yet to be revealed.It is reported that the acquisition marks that Groupe Clarins formally withdraws from the perfume and garment market, and will focus on skin care business in the future.In the first half of this year, the sales volume of L'Oreal Group rose 10.6% to EUR 14.81 billion, which mainly benefited from the positive performance of the Asia Pacific market and the promotion of tourism retail, online business and skin care departments.