L'Oréal acquires YSL Beauté for 1.15 billion euros<

Things are happening in the world of cosmetics. The PPR group announced in a press release on Wednesday that it had concluded "a strategic agreement" with L'Oréal, providing for the transfer to the latter of the operation of the Yves Saint Laurent and Boucheron brands. The agreement also provides for the transfer of Stella McCartney, Oscar de la Renta and Ermenegildo Zegna perfume and cosmetic licenses to L'Oréal. YSL Beauté titles, including its Roger & Gallet, would be sold on the basis of an enterprise value of 1.15 billion euros.

On the other hand, "the Yves Saint Laurent, Boucheron and Stella McCartney brands remain the property of the PPR Group", specifies the press release.

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A “great opportunity” for L'Oréal

"Through this proposed strategic agreement with the world's number one cosmetics company, Gucci Group has chosen to provide YSL Beauté with the means to fully exploit its growth potential," said PPR CEO François-Henri Pinault, quoted in the press release, which specifies that L'Oréal "would be able to continue and amplify the work already accomplished" and offer a "unique development platform to the brands Boucheron, Stella McCartney".

For his part, Jean-Paul Agon, CEO of L'Oréal, sees in this agreement a "great opportunity for the L'Oréal group and its Luxury Products Division". According to him, YSL benefits from both "great international influence" and its activity is "complementary" with the other L'Oréal brands.

The transaction should be signed in the coming weeks, after consultation with the employee representative bodies, and will be subject to the approval of the competition authorities.