L’Oreal Groupe have acquired a minority stake in Oman-based perfume house, Amouage

L’Oreal have confirmed that they have acquired a minority stake in luxury perfume house, Amouage. Last year it was revealed that L’Oreal were reportedly in talks to do so.

Following the transaction, SABCO LLC remains Amouage’s majority shareholder.

Nicolas Hieronimus, CEO of L’Oreal said as part of their 2024 Annual Results, “2024 was a defining year as we made L’Oréal future fit and laid many foundations for our next conquests: we augmented our marketing and R&I capabilities with AI and tech, advanced with the harmonisation of our IT, simplified our organisational structures, and strengthened our industrial and supply chain resilience. We also continued to sharpen our portfolio: we acquired the Miu Miu license and Korean brand Dr.G, and took minority stakes in Galderma and Amouage.”