Shiseido (Tokyo) has "signed a memorandum of understanding" to acquire niche fragrance and cosmetic brand Serge Lutens.
Serge Lutens, the eponymous founder, will continue his role as creative director. Shiseido, meanwhile, will launch "free-standing brand boutiques" for Serge Lutens in major cities around the world.
Shiseido credits earlier collaborations with Lutens for the company's entree into Europe.
The Serge Lutens brand, founded in 1981, is available in 2,000 outlets in 35 countries.