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Prada and L’Oréal sign a long-term license agreement

Prada

Prada S.p.A. and L’Oréal announce the signing of a long-term license agreement for the creation, development, and distribution of luxury beauty products for the Prada brand.

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This agreement will allow the two companies to combine their expertise in each of their own sectors.

Patrizio Bertelli, CEO of Prada S.p.A.: “L’Oréal is the leading global beauty company. Its position and experience makes it the ideal partner for Prada to develop its full potential across a variety of new projects, leverage Prada’s well-established fragrance identity and reach even more audiences around the world.”

Cyril Chapuy, President of L’Oréal Luxe: “We are very pleased to have signed this license agreement with Prada. Prada is one of the most respected players in the global luxury industry. A symbol of excellence and avant-garde, the Prada brand’s unique and unconventional philosophy appeals to consumers around the world. This license will give L’Oréal Luxe the ideal complement to its portfolio of iconic brands.”

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The license agreement, having obtained the applicable customary regulatory approvals, will come into effect on 1 January 2021.

(Source: L'Oreal)

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