L'Oréal Acquires Minority Stake in Amouage

PlezuroMag

Global beauty powerhouse L'Oréal has confirmed its acquisition of a minority stake in Amouage, the renowned Omani luxury fragrance house. This was announced alongside L'Oréal’s 2024 annual financial results.

During a conference last week, L'Oréal CEO Nicolas Hieronimus highlighted Amouage’s rapid growth and cultural significance, emphasizing the brand’s strong position in Oman and its global appeal. Despite the investment, Amouage will maintain its independence, with SABCO Group remaining the majority shareholder.

Founded in 1983, Amouage is celebrated for its exquisite craftsmanship and deep-rooted heritage, often referred to as the “Gift of Kings.” The brand operates around 20 standalone boutiques and is distributed through over 1,000 luxury retailers worldwide.

L'Oréal’s investment aligns with its broader strategy to expand its luxury fragrance portfolio. In recent years, the beauty giant has strengthened this division with acquisitions including Aesop, the Miu Miu fragrance license, and a minority stake in Jacquemus.

Marco Parsiegla, CEO of Amouage, expressed enthusiasm for the partnership, stating that L'Oréal’s support will empower the brand to achieve its global ambitions while staying true to its heritage.