Prada, L'Oréal Sign Long-term License Agreement - Quick Facts

(RTTNews) - Prada S.p.A. (PRDSY.PK) and L'Oréal (LRLCY.PK) announced signing of a long-term license agreement ro create, develop and distribute luxury beauty products for the Prada brand.

The license agreement, having obtained the applicable customary regulatory approvals, will come into effect on January 1, 2021.

Cyril Chapuy, President of L'Oréal Luxe, stated, "We are very pleased to have signed this license agreement with Prada. Prada is one of the most respected players in the global luxury industry. A symbol of excellence and avant-garde, the Prada brand's unique and unconventional philosophy appeals to consumers around the world. This license will give L'Oréal Luxe the ideal complement to its portfolio of iconic brands."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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