Italian luxury fashion house, Valentino, is set to make its move into the international beauty market next year.
The iconic brand has signed a worldwide licence agreement with L’Oréal for the “creation, development and distribution of fine fragrances and luxury beauty”.
Announcing the agreement, Valentino CEO Stefano Sassi said the company was “very excited to start this new venture and develop its beauty business with L’Oréal”.
“We believe Valentino has great potential within the category and that with L’Oréal’s unparalleled expertise in the sector, we will be able to realise that potential.”
Equally enthusiastic about the new collaboration, L’Oréal’s deputy CEO, Nicolas Hieronimus, said the French cosmetic giant, which currently has a porfolio of 34 brands, was “thrilled to have been granted the license of Maison Valentino”.
“With its unique combination of prestige and modernity, Valentino will definitely appeal to millennial consumers around the globe and ideally complements our brand portfolio.”
The agreement will take effect on January 1 with the first products in the new luxury line expected to be rolled out shortly thereafter.
Although Valentino hasn’t previously released any beauty products, the company, which was founded in 1960, has released numerous fragrances over the years including, more recently, Valentino Donna, Valentino Uomo and Valentina.
Renowned for its haute couture, today the company’s “innovative contemporary vision … embodies the image of beauty, of the extraordinary and of modernity, and as such, provides a strong inspiration for fragrance and beauty creation”.
Valentino is the third luxury fashion brand to collaborate with L’Oréal.
The company has produced fragrances and cosmetics for Italy’s Armani (since 1998) and France’s Yves St Laurent since 2008.