L'Oreal Eyes Stake in €3 Billion Perfume Brand Amouage [BNN Bloomberg (Canada)]
L'OREAL UNSP/ADR (LRLCY)
NASDAQ:AMEX Investor Relations:
loreal-finance.com/eng
Company Research
Source: BNN Bloomberg
The French beauty group has been holding talks on the possible purchase of a minority stake in Amouage, the people said, asking not to be identified because the information is private. Amouage's owner, the SABCO Group conglomerate, has discussed a valuation of more than €3 billion ($3.2 billion) for the business in any deal, according to the people. Amouage was founded in 1983 with a pitch drawing on the sultanate of Oman's heritage as a cultural crossroads at the center of ancient trading routes for incense and myrrh. Some of its perfumes fetch €365 for a 100-milliliter bottle, according to Amouage's website. The company sells its products, marketed as “the Gift of Kings,” in about a dozen standalone boutiques and 1,000 other locations including department stores, perfume shops and airports. Retail sales at Amouage increased to more than $210 million in 2023, more than doubling over a three-year period. The company is controlled by SABCO, a local business group led by Chairman S
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