Italian luxury fashion house, Valentino, is set to create its transfer to the international beauty market the coming year.
The iconic brand has signed an international licence agreement with L’Oréal for that “creation, development and distribution of fine fragrances and luxury beauty”.
Announcing the agreement, Valentino CEO Stefano Sassi said the company was “very excited to begin this new venture and develop its beauty business with L’Oréal”.
“We feel Valentino has great potential within the category and that with L’Oréal’s unparalleled expertise in the sector, we are in a position to recognise that potential.”
Equally enthusiastic about the brand new collaboration, L’Oréal's deputy CEO, Nicolas Hieronimus, said in france they cosmetic giant, which currently includes a porfolio of 34 brands, was “thrilled to have been granted the license of Maison Valentino”.
“Using its unique mixture of prestige and modernity, Valentino will definitely attract millennial consumers around the globe and ideally complements our brand portfolio.”
The agreement will take effect on January 1 with the first products in the new luxury line likely to be rolled out shortly thereafter.
Although Valentino hasn't previously released any beauty items, the organization, which was founded in 1960, has released numerous fragrances through the years including, recently, Valentino Donna, Valentino Uomo and Valentina.
Renowned for its high fashion, today the business's “innovative contemporary vision – embodies the image of beauty, of the extraordinary as well as modernity, and as such, provides a strong inspiration for fragrance and sweetness creation”.
Valentino is the third luxury fashion brand to collaborate with L’Oréal.
The company has produced fragrances and cosmetics for Italy's Armani (since 1998) and France's Yves St Laurent since 2008.
