Scent-sational Move: L'Oreal Reportedly Considers Dive into Omani Luxury with Amouage Stake

Zinger Key Points
  • L’Oreal contemplates investing in Amouage's luxury fragrances.
  • Amouage, reportedly valued at €3 billion, witnesses soaring retail sales.

The renowned French beauty conglomerate L'Oreal SA LRLCY LRLCF is reportedly mulling over an investment opportunity in Omani luxury fragrance brand Amouage.

L'Oreal is in discussions regarding a potential acquisition of a minority stake in Amouage, reported Bloomberg, citing sources familiar with the matter.

Amouage, rooted in Oman's rich cultural heritage, is exploring a valuation exceeding €3 billion ($3.2 billion) for any prospective deal. Known for its opulent perfumes, Amouage has seen robust growth, with retail sales surpassing $210 million in 2023.

Founded in 1983, Amouage draws inspiration from Oman's historic significance as a trading hub for incense and myrrh.

Its premium fragrances, often dubbed as "the Gift of Kings," command prices as high as €365 for a 100-milliliter bottle, available in select boutiques and numerous retail outlets worldwide.

L'Oreal, a major player in the beauty industry, has been actively expanding its portfolio through acquisitions and licensing agreements.

Price Action: LRLCY shares closed lower by 2.28% at $90.94 Wednesday.

DisclaimerThis content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo via Wikimedia Commons

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