On March 31st, L'OREAL announced that it had completed the acquisition of French perfume brands Mugler and Azzaro. L'Oreal Group announced on October 21, 2019 that it will buy the two brands from French cosmetics group jiaoyunshi.
The completion of this will help L'OREAL group further improve the layout of luxury perfume. L'OREAL group announced its agent Prada's perfume business in 2019, which came into effect in January 2020. In addition, L'OREAL started acting as a luxury brand Valentino perfume business in January 2019.
The acquisition of perfume brands will further consolidate L'OREAL's market competitiveness in this field. In its 2020 Vision, L'OREAL announced that it will continue to integrate its perfume brand this year and speed up its development.