Luxury Headlines – 08/04/2024
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L’Oréal Considering Stake in Perfume Brand Amouage
L'Oréal is considering acquiring a minority stake in Amouage, an Omani luxury fragrance company founded in 1983. The brand distributes its products through wholly-owned boutiques and department stores. A deal has not been finalized, and the terms are not public knowledge. However, the SABCP Group conglomerate, which owns Amouage, has discussed a valuation of more than $3 billion for the entire brand. In the past, L'Oréal has pursued a string of acquisitions and licensing deals that have added to its portfolio of cosmetics and perfume brands. Last year, L'Oréal bought Australian cosmetics brand Aesop for an enterprise value of $2.5 billion.
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Kering Buys Iconic Building in Milan
Kering SA, owners of Gucci, is spending €1.3 billion ($1.41 billion) to acquire a property on Milan's most prestigious shopping street, Via Monte Napoleone. The 18th-century property spans five floors and over 5,000 square meters of retail space, making it one of the largest on this venerable street.
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Serena Williams Launches Make-Up Line
Serena Williams is launching a makeup line, Wyn Beauty. The inspiration behind this is Serena’s experience wearing makeup while playing tennis. The makeup line will be available through Ulta Beauty and the brand’s Direct-To-Consumer (DTC) site. Among some of the products featured will be Glideline Waterproof Liquid Eyeliner, which is designed to be waterproof and sweat-resistant. The product packaging is inspired by tennis balls. The brand is launching this as a joint venture with Indian personal care and beauty company Good Glamm Group.
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Valentino Beauty Appoints New President
Claudia Marcocci has been appointed as the new president of Valentino Beauty. Marcocci’s appointment comes one week after Alessandro Michele’s appointment as creative director at Valentino. During her tenure as Senior Vice President at Gucci Beauty and close collaboration with Michele, her achievements included launching the makeup line and Bloom fragrance. In her subsequent role as chief marketing officer and general brand director at Dior Beauty, she managed the make-up, skincare, perfume, and spa categories. Industry experts believe that Marcocci’s appointment signals Michele’s influence at Valentino Beauty and suggests he will have creative control over the beauty line.
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Aston Martin Opens Showroom at Peninsula Tokyo
Aston Martin, the British automaker known for its ultra-luxury vehicles, has opened a showroom in one of Tokyo’s wealthiest neighborhoods, Ginza, inside the Peninsula Tokyo, one of the city’s finest hotels. Tokyo has been the top city for new Aston Martin sales in 2023. The Ginza showroom will encompass two stories, spanning 3,490 square feet, and showcase the automaker’s investment in high-quality customer experiences. Customization will be at the heart of the experience, with clients able to create their very own Aston Martin to their preference.
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