On the heels of the publication of annual results that are more resilient than the market, the beauty giant announced that it had just acquired a stake in Jacquemus and the haute parfumerie brand Amouage.
Provençal charm and hot sand
The L’Oréal group, which has managed to boost its annual results despite a difficult context, seems in a sunny mood. So much so that it has set its sights on the independent French fashion brand Jacquemus and the House of fine perfumery from the Sultanate of Oman, Amouage.
The former opened two physical stores in New York and London at the end of 2024 and, as early as 2021, signaled its intention to make an incursion into beauty by registering “Jacquemus la beauté”. The latter opened its first physical flagship store in China in mid-December.
These acquisitions, although minority interests, aim to gain a foothold in one of the most resilient luxury markets in 2024 according to the Bain-Altagamma report: that of collectible perfume.
Acquisition of minority interests
At the press conference on its annual results, the L’Oréal group announced two acquisitions of minority interests.
One concerns the independent fashion brand Jacquemus, to the tune of 10%. The beauty giant thus referred to “an exclusive long-term beauty partnership” with the ready-to-wear and accessories specialist Jacquemus, “reinforced by a minority stake supporting its independent development”.
The second concerns Amouage, the high-end perfume brand, the most famous on the Arabian Peninsula. For the latter, although the percentage has not been detailed, sources close to the case mentioned, prior to the announcement, that the said agreement would have the effect of valuing the Sultanate of Oman’s brand at 3 billion euros.
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Read also > L’Oréal outperformed the beauty market in 2024
Featured Photo: © Jacquemus © Amouage
