L'Oréal Acquires Stake in Omani Luxury Perfume Brand Amouage

L'Oréal has secured a long-term minority stake in Amouage, the Omani luxury fragrance house known for its high-concentration perfumes and artisanal production methods.

The investment comes as Amouage reports exceptional growth, with retail sales exceeding $260 million in 2024, representing a 30 percent year-over-year increase. This growth rate is nearly 2.5 times faster than the global perfume market.

L'Oréal's CEO reports that the brand is eager bring exquisite scents symbolic of Arabic culture to the whole world.

Founded in 1983 by the late Sayyid Hamad AI Busaidi under the vision of Sultan Qaboos bin Said, Amouage has maintained its independence while expanding globally. The brand's eau de parfums feature oil concentrations of 25 percent, with some products reaching up to 56 percent in their Exceptional Extraits line. Marco Parsiegla, Amouage's CEO, revealed plans to triple their current 17 boutiques worldwide within five years using the new investment. The company will also advance its sustainability initiatives, including a smart forest project monitoring frankincense trees in Wadi Dawkah.

The brand has particularly connected with younger consumers, with over 80 percent of its clientele under 45 years old. In 2024, Amouage's social media reach extended to nearly 400 million people.

The financial terms of L'Oréal's investment were not disclosed.