L’Oréal acquires stake in fragrance brand Amouage
LVMH has defied the luxury slowdown, reporting over $93 billion in revenue for 2023—a 13% increase from the previous year, with a 14% boost in fashion and leather goods.
LVMH has defied the luxury slowdown, reporting over $93 billion in revenue for 2023—a 13% increase from the previous year, with a 14% boost in fashion and leather goods.
CEO Bernard Arnault credited strong brand performance, highlighting Celine’s success and Louis Vuitton’s expansion into watches. He also sees the upcoming U.S. election as a catalyst for market growth.
Meanwhile, L’Oréal continues to strengthen its luxury division, acquiring a minority stake in high-end fragrance brand Amouage. The Omani brand, known as the “gift of kings,” generated $210 million in revenue in 2023. This move follows L’Oréal’s recent luxury expansions, including Aesop, Miu Miu, and Jacquemus.
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