PARIS — L’Oréal’s acquisition of Magic Holdings International Ltd., the Chinese maker of cosmetics facial masks, has been given the green light by China’s ministry of commerce, the companies said jointly Monday.
As reported in August, the deal is worth an estimated $840 million. It is expected to close during the second quarter of this year.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"