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L'Oreal wins Valentino licence in pursuit of perfume leadership

Reuters  |  PARIS 

(Reuters) - will produce fragrances and for Italian fashion label Valentino, enhancing its by winning a licence previously held by Spain's

The French beauty firm's luxury products division already makes fragrances and for Armani and Saint Laurent as well as its own labels such as Lancome.

It is competing with U.S. group which became the world's leading by buying Procter & Gamble's beauty division in 2015, and also has licences for brands like Gucci or

"aims to become the world in This license should allow us to reach that goal," a said.

did not disclose the terms of the agreement, which will become effective from 2019, after regulatory approvals. The contract with was due to expire at the end of 2018.

(Reporting by Pascale Denis, Writing by Sarah White, Editing by Alexander Smith)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 14 2018. 17:18 IST
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