L'Oréal: News release: "Prada and L'Oréal announce the signing of a long-term license agreement"
12 Dicembre 2019 - 08:30AM
L'Oréal: News release: "Prada and L'Oréal announce the signing of a
long-term license agreement"
PRESS RELEASE
Prada and L'Oréal announce the signing
of a long-term license agreement
Milan and Clichy, 12 December 2019,
08.30 AM CET - Prada S.p.A. and L'Oréal
announce the signing of a long-term license agreement for the
creation, development and distribution of luxury beauty products
for the Prada brand. This agreement will allow the two companies to
combine their expertise in each of their own sectors.
Patrizio Bertelli, CEO of Prada
S.p.A.: “L’Oréal is the leading global beauty company. Its position
and experience makes it the ideal partner for Prada to develop its
full potential across a variety of new projects, leverage Prada’s
well-established fragrance identity and reach even more audiences
around the world.”
Cyril Chapuy, President of
L'Oréal Luxe: “We are very pleased to have signed this license
agreement with Prada. Prada is one of the most respected players in
the global luxury industry. A symbol of excellence and avant-garde,
the Prada brand's unique and unconventional philosophy appeals to
consumers around the world. This license will give L'Oréal Luxe the
ideal complement to its portfolio of iconic brands.”
The license agreement, having obtained the
applicable customary regulatory approvals, will come into effect on
1 January 2021.
PRADA Group
Prada S.p.A. - HKSE Code 1913 - is one of the
global leaders in the luxury goods industry. The Group, which owns
the Prada, Miu Miu, Church’s and Car Shoe brands, produces and
distributes luxury leather goods, footwear and apparel manufactured
in 22 company-owned industrial sites. It also operates in the food
sector with Marchesi 1824, and in the eyewear and fragrance
industries under licensing agreements. The Group’s products are
sold in 70 countries worldwide through 637 directly operated stores
as of June 30, 2019 and a selected network of multi-brand stores
and department stores.
L’Oréal
L’Oréal has devoted itself to beauty for over
100 years. With its unique international portfolio of 36 diverse
and complementary brands, the Group generated sales amounting to
26.9 billion euros in 2018 and employs 86,000 people worldwide. As
the world’s leading beauty company, L’Oréal is present across all
distribution networks: mass market, department stores, pharmacies
and drugstores, hair salons, travel retail, branded retail and
e-commerce.Research and innovation, and a dedicated research team
of 4,000 people, are at the core of L’Oréal’s strategy, working to
meet beauty aspirations all over the world. L’Oréal’s
sustainability commitment for 2020 “Sharing Beauty With All” sets
out ambitious sustainable development objectives across the Group’s
value chain. For more information:
http://mediaroom.loreal.com/en/
“This news release does not constitute an offer
to sell, or a solicitation of an offer to buy 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
Internet site www.loreal-finance.com.This news release may contain
some forward-looking statements. Although the Company considers
that these statements are based on reasonable hypotheses at the
date of publication of this release, they are by their nature
subject to risks and uncertainties which could cause actual results
to differ materially from those indicated or projected in these
statements.”
Prada Press Office
+39 02 567811corporatepress@prada.com www.pradagroup.com
Contacts L'ORÉAL (switchboard +33 1 47 56 70
00)
JournalistsStéphanie CARSON-PARKERTel: +33 (0)1
47 56 76 71stephanie.carsonparker@loreal.com
Polina HUARD Tel: +33 (0)1 47 56 87
88polina.huard@loreal.com
Individual shareholders and market
authoritiesJean Régis CAROFTel: +33 (0)1 47 56 83
02jean-regis.carof@loreal.com
Financial analysts and institutional
investorsFrançoise LAUVIN Tel: +33 (0)1 47 56 86
82francoise.lauvin@loreal.com
For further information, please contact your
bank, stockbroker or financial institution (I.S.I.N. code:
FR0000120321), and consult your usual newspapers or magazines or
the Internet site for shareholders and investors,
www.loreal-finance.com,the L’Oréal Finance app or call the
toll-free number from France: 0 800 66 66 66.
- Prada_SpA_and_LOreal_Agreement_12.12.19_ENG
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