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L'OREAL - Luxury Products Division - Signs Partnership Agreement with DIESEL for Launch of New Fragrance Line

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PARIS, Jan. 16 /PRNewswire/ -- The Prestige & Collections International department of L'OREAL's Luxury Products Division has just signed a license agreement with DIESEL, founded in 1978 and developed by its president Renzo Rosso. The contract covers the creation of a line of fragrances.

This partnership will build on the synergy between L'OREAL, the world's leading cosmetics group and number one company in luxury fragrances, and 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 given birth to a unique lifestyle that is illustrated in an emblematic way through its ground-breaking advertising and marketing.

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, are always located in prime position trendy shopping districts.

L'OREAL is a world leader in selective fragrances, with a portfolio of brands that complement one another in ITStargets, positioning and geographic locations. 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. Lancome, the world's leading beauty product brand, is in eighth place in fragrances. Viktor&Rolf, a trendsetting designer brand, with whom L'OREAL signed a license agreement in 2002, has quickly made a name for itself with Flower Bomb for women, and is in the top 5 with its worldwide exclusive distribution.

"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," said Patricia Turck Paquelier, International Brand President of Prestige & Collections International.

"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 L'OREAL's Luxury Products Division and brings in a new alternative to classical luxury brands," said Marc Menesguen, President of the Luxury Products Division of L'OREAL.

"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 jewelry 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'OREAL people just proved to be our perfect match," said Renzo Rosso, President and Founder of DIESEL.