By Anthony Shevlin

L'Oreal SA (OR.FR) said Tuesday that it is in exclusive negotiations with the Clarins Group to acquire the Mugler and Azzaro brands.

The French cosmetics and consumer-products company didn't reveal any financial details but said the deal should be completed during 2019.

"We would be thrilled to welcome Mugler and Azzaro: These signatures, with a long history in fashion and olfaction, would perfectly complete our portfolio of brands," said Cyril Chapuy, president of L'Oreal Luxe.

Mr. Chapuy said the perfume category is "at the heart" of its global growth strategy for its Luxe division.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com; @anthony_shevlin

(END) Dow Jones Newswires

July 02, 2019 02:55 ET (06:55 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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