PARIS — L’Oréal and Giorgio Armani have agreed to renew their beauty license until 2050, the companies announced jointly on Thursday.
The French beauty giant since 1988 has developed Armani’s fragrances, skin care and makeup in close collaboration with the Italian designer.
“These lines are showing [some] of the strongest growth in the beauty category, generating revenues of over 1 billion euros in 2017,” L’Oréal said in a statement.
“The renewal of our agreement with Armani demonstrates our confidence in the success of this partnership, which has proven its strength and coherence during all these years,” said Jean-Paul Agon, chairman and chief executive officer of L’Oréal.
“The collaboration with L’Oréal is one of the first licenses of our portfolio,” said Giorgio Armani, president of the Armani Group. He added that “over the years our mutual trust has constantly generated excellent results.”
The Giorgio Armani Fragrances and Beauty business, which is part of L’Oréal’s Luxury division, has been on a steep growth trajectory for five years. And that momentum is expected to continue throughout this year due to a plethora of initiatives, including a further rollout of pop-ups and a heightened focus on China.
In other Armani-related news, the brand’s Acqua for Life charity marks its ninth year in 2018. It’s run in partnership with UNICEF USA, Green Cross International and, starting this year, WaterAid, a U.K.-based non-governmental organization. That is an initiative focused on universal access to drinking water in regions where it is scarce.
Since 2010, Acqua for Life has invested more than 5.5 million euros in projects around the globe. Thanks to the program, 880 million liters (or 232.5 million gallons) of waters have been accessible to 130,000 people in 146 communities on three continents.
“The issue of the environment intimately involves everyone: It should be addressed in a concrete way,” said Armani in a statement released Thursday. “We can in no way ignore that the future of the next generations depends on our choices.”
The Armani beauty brand itself has long had a strong link with water, with its Acqua di Giò and Acqua di Gioia fragrances.