June 2008
The European Commission has just authorised the sale by PPR of YSL Beauté to L'Oréal, in line with the agreements finalised by the two groups on April 30th 2008.
PPR and L’Oréal report that they have finalised the YSL Beauté licensing agreements and the sale of the company under the terms announced on January 23, 2008. The parties are planning for an effective transfer at the end of June following authorisation from the competition authorities.
PPR develops a portfolio of high-growth global brands. Through its Consumer and Luxury brands, PPR generated sales of EUR 19.8 billion in 2007. The Group is present in 90 countries with approximately 93,000 employees.
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