Puma has granted a license for personal care items to L’Oréal, the big French group of beauty products, effective from January next year. The agreement succeeds the current license contract with U.S. consumer goods giant Procter & Gamble (Gillette, Wella, Braun, Kukident and many more). Puma’s deal with P&G expires on Dec. 31, 2014.
The German sporting goods brand is not the only part of Kering, the huge fashion & lifestyle corporation, which is in partnership with L’Oréal, whose sales exceeded €23 billion last year. L’Oréal also holds the license for beauty products under the Saint Laurent brand. Kering, then Pinault-Printemps-Redoute, acquired both the fashion and personal care businesses of Saint Laurent in 1999, but sold YSL Beauté to L’Oréal in 2008.