L'Oréal Acquires Stake in Luxury Perfume Brand Amouage

French beauty powerhouse L'Oréal has secured a minority stake in Amouage, the prestigious Omani perfume house, marking a significant expansion of its luxury fragrance division. The deal, announced during L'Oréal's 2024 annual results presentation, adds a distinctive Middle Eastern brand to the group's growing portfolio.

Amouage, founded in 1983 by the Albusaidi family, has shown remarkable momentum, with sales more than doubling over the past three years to exceed $210 million. The brand reported a strong 24% growth in 2024, demonstrating its increasing appeal in the ultra-premium fragrance segment.

CEO Nicolas Hieronimus highlighted Amouage's position as "the fastest-growing fragrance brand in Oman" during the February 7th announcement, underlining L'Oréal's strategic interest in strengthening its presence in the Middle East. While financial terms weren't disclosed, earlier Bloomberg reports suggested a company valuation exceeding €3 billion.

Operating through 20 standalone boutiques and 1,000 premium retail locations worldwide, Amouage has built its reputation on rare ingredients and exceptional craftsmanship. The brand's perfumes, which start at €365, are often referred to as the "gift of kings," reflecting their prestigious position in the luxury fragrance market.

The investment in Amouage follows L'Oréal's recent strategic moves, including the acquisition of Aesop and securing licenses for Miu Miu and Jacquemus. These additions have bolstered L'Oréal's luxury division, which achieved revenues of €15.5 billion in 2024, marking a 2.7% comparable growth.

The Sabco Group will remain Amouage's majority shareholder, ensuring the brand maintains its cultural heritage while gaining support for international expansion through L'Oréal's global infrastructure and expertise.