Prada and L'Oréal have signed a long-term license agreement for the creation, development and distribution of luxury beauty products for the Prada brand. The license agreement will go into effect on January 1, 2021.
“L’Oréal is the leading global beauty company," said Patrizio Bertelli, CEO of Prada S.p.A. "Its position and experience makes it the ideal partner for Prada to develop its full potential across a variety of new projects, leverage Prada’s well-established fragrance identity and reach even more audiences around the world.”
“We are very pleased to have signed this license agreement with Prada," said Cyril Chapuy, president of L'Oréal Luxe. "Prada is one of the most respected players in the global luxury industry. A symbol of excellence and avant-garde, the Prada brand's unique and unconventional philosophy appeals to consumers around the world. This license will give L'Oréal Luxe the ideal complement to its portfolio of iconic brands.”