March 22, 2018 / 8:07 AM / a month ago

BRIEF-L'Oreal and Armani extends their license agreement until 2050​

March 22 (Reuters) - L’oreal:

* FRENCH LUXURY GROUP L’OREAL AND ITALY’S ARMANI EXTENDS THEIR 1988 LICENSE AGREEMENT UNTIL 2050

* L’OREAL SAYS LINES OF PRODUCTS IN THE AGREEMENT ARE SHOWING ONE OF THE STRONGEST GROWTH IN THE BEAUTY CATEGORY GENERATING REVENUES OF OVER ONE BILLION EUROS IN 2017.

* “THE RENEWAL OF OUR AGREEMENT WITH ARMANI DEMONSTRATES OUR CONFIDENCE IN THE SUCCESS OF THIS PARTNERSHIP WHICH HAS PROVEN ITS STRENGTH AND COHERENCE DURING ALL THESE YEARS”, JEAN-PAUL AGON, CHAIRMAN AND CEO OF L’ORÉAL SAID.​ Source text for Eikon: Further company coverage: (Reporting by Bate Felix)

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