L'Oréal renews Armani beauty products licence until 2050

Paris, 22nd March 2018 (AFP) - On Thursday, French cosmetics giant L'Oréal announced a new deal with Armani, renewing the licence it holds for the development and distribution of the Italian luxury label's fragrance, skincare and make-up products until 2050.

Armani-licensed beauty products were first created by L'Oréal in 1988, and in 2017 they generated over €1 billion in revenue for the French group, out of a total revenue of €26 billion. According to a press release, these products "posted one of the highest growth rates in the industry."

The financial terms of the new licence agreement were not disclosed.

"The collaboration with L'Oréal ranks as one of the leading licenses" in the Armani group's portfolio, said group President Giorgio Armani, who added he was "very happy" to renew and consolidate this "flourishing partnership."