In a surprise move, the Estée Lauder Cos. Inc. is assuming the worldwide fragrance license of the Ermenegildo Zegna Group from L’Oréal, effective July 1.
Terms of the deal were not disclosed. Industry sources noted that the license, which L’Oréal acquired in January 2008 as part of its 1.15 billion euro ($1.68 billion at the time) deal for YSL Beauté Holding from PPR subsidiary Gucci Group, had two years remaining with the French beauty giant, although Lauder executives declined comment on that point.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)