L’Oréal Plans To Sell Lanvin Investors / Shareholders


Paris, 12nd July, 2001 - After selling its 49% stake in the Marie Claire group a few months ago, the L'Oréal group plans to sell 100% of the equity of Lanvin S.A. and its worldwide subsidiaries to continue refocussing on its core business. The intended purchaser is a group of investors, who have formed the holding company Harmonie S.A.. The group includes :

  • Mrs Shaw-Lan Wang, shareholder and leading figure of a press group international,
  • the Bio-Mérieux-Pierre Fabre group,
  • the Marcel Dassault industrial group,
  • the Young Brothers group,
  • the AXA group, as financial investor.
According to Gilles Weil, L'Oréal vice-president in charge of the luxury products division and chairman of Lanvin: "For L'Oréal, Lanvin has represented an "opening" to the world of fashion. All over the world, and particularly in Asia, the image of Lanvin has been restored, enhanced and modernized in recent years. It is clear that a group wholly dedicated to developing the brand in the long-term, and with the necessary stature and high level of professional expertise, will successfully continue the work of stimulation on which a substantial start has already been made."

The consolidated sales of Lanvin S.A. and its subsidiaries for 2000 totalled EUR 50 million, representing 0.4% of L'Oréal's consolidated sales.

The group of investors set to purchase Lanvin has indicated that it has global ambitions for Lanvin, which will include in the future the take over of the fragrance business after a period of transition. For 2000, this fragance activity sales totalled EUR 26 million, representing 0.2% of L'Oréal's consolidated sales.

Contacts at L’OREAL
Shareholders and Market Authorities
François Archambault
Tel.: +33(0)1.47.56.83.45
info@loreal-finance.com
Financial Analysts and Institutional Investors
Caroline Millot
Tel.: +33(0)1.47.56.86.82
Fax: +33(0)1.47.56.80.02
Journalists
Lorrain KRESSMANN
Tel.: +33(0)1 47 56 40 24
lkressmann@dgc.loreal.com



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