L’ORÉAL - Luxury Products Division – signs a partnership agreement with DIESEL - worldwide youth cult brand - for launch of new fragrance line

L’ORÉAL, Luxury Products Division has just signed a licence agreement with DIESEL, the cult brand founded in 1978 and developed by its charismatic president Renzo Rosso. The contract covers the creation of a line of fragrances.

This partnership will build on the synergy between the expertise of L’ORÉAL, the world’s leading cosmetics group and number one company in luxury fragrances, and the creative strength of DIESEL, whose over 25 years of original and innovative style has created a group worth one billion euro.

DIESEL is a cult brand among 18-35 year-olds all over the world. Taking a highly original approach to jeans and high-end casualwear, Renzo Rosso, its founder, has invented something more than simple fashion: he has given birth to a unique lifestyle that is illustrated in an emblematic way through its ground-breaking advertising campaigns and unconventional marketing techniques.

DIESEL, an unlisted company based in Molvena (Italy), is present in 80 countries, through 5,000 sales outlets, over 300 of them directly owned. Its flagship stores, the first of which opened in New York in 1996 followed by all the major capitals, are always located in prime position trendy shopping districts, making DIESEL products essential accessories of todayÂ’s luxury wardrobe.

L’ORÉAL is world leader in selective fragrances, with a portfolio of brands that complement one another in terms of targets, positioning and geographic locations:

• LANCOME, the world’s leading beauty product brand, is in eighth place in fragrances.
• And within Prestige & Collections International, GIORGIO ARMANI has increased its turnover five-fold in 10 years and is now the third most important world brand in luxury fragrances and number one in fragrances for men. RALPH LAUREN is in second place in the USA and in the top 10 worldwide. CACHAREL, with its neo-romantic style, is among the top 10 brands for women. VIKTOR & ROLF, a trendsetting and daring designer brand, with whom L’ORÉAL signed a licence agreement in 2002, has quickly made a name for itself with the launch of its Flower Bomb for women, and is in the top 5 with its worldwide exclusive distribution. DIESEL will join the Prestige & Collections International Department.

“With DIESEL we are underlining our interest in high added creative value brands; we have been won over by the brand’s creators, by their bold, not to say cheeky, approach which has made DIESEL a sexy and ground-breaking casual-chic brand. We will provide DIESEL with all our expertise in order to continue to expand the fragrance market. The first fragrance, due out in 2007, will come as a welcome surprise to a young public looking for unconventional products.”
Patricia Turck Paquelier, International Brand President of Prestige & Collections International, within LÂ’OREALÂ’s Luxury Division

“The agreement with DIESEL fits our strategic aim of consolidating our position as world leader in fragrances, and perfectly complements our existing brand portfolio. The DIESEL brand, with its appeal to young people worldwide, represents a tremendous opportunity for growth for LORÉAL’s Luxury Products Division and brings in a new alternative to classical luxury brands.”
Marc Menesguen, President of the Luxury Products Division of L’ORÉAL

"For over 25 years we have worked to develop a unique lifestyle icon that is called DIESEL, a brand that stands for creativity, innovation and quality. Today DIESEL is the finest representation of premium casualwear and accessory lines.

After some very successful licensing partnerships for our shades and for our jewellery and watches, we were looking only for the best for a special category such as fragrances, not only as far as business and product know-how is concerned, but also as far as the 'human relationship' goes. This latter is a key ingredient of all our ventures as our ideal partner is always someone who can understand and translate the DIESEL spirit and attitude in the best product. And the L'Oréal people just proved to be our perfect match."

Renzo Rosso, President and Founder of DIESEL

Contacts

L’Oréal Press Office
Mike Rumsby
Tél. 00 33 1 47 56 76 71
Email : mrumsby@dgc.loreal.com

Diesel Presse Office
Tel. 00 39 04 24 47 75 55