By Nathan Allen

L'Oreal SA (OR.FR) and Valentino Fashion Group SpA have signed a world-wide license agreement to develop and distribute fragrances and luxury beauty products under the Valentino brand, according to a joint statement released on Monday.

The agreement is effective from Jan. 1, 2019 assuming all regulatory approvals are granted, the companies said.

"With its unique combination of prestige and modernity, Valentino definitely will appeal to millennial consumers around the globe and ideally complements our brand portfolio," L'Oreal's Deputy Chief Executive Nicolas Hieronimus said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

May 28, 2018 02:55 ET (06:55 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Loreal (PK) (USOTC:LRLCY)
Historical Stock Chart
From Oct 2024 to Nov 2024 Click Here for more Loreal (PK) Charts.
Loreal (PK) (USOTC:LRLCY)
Historical Stock Chart
From Nov 2023 to Nov 2024 Click Here for more Loreal (PK) Charts.