L'Oreal have teamed up with Valentino for a new beauty range.
The global cosmetics brand and luxury designer have joined forces for an upcoming collection under the Valentino name to help bring their creative vision through makeup and fragrance to a wider audience by using L'Oreal's expertise in the makeup market.
In a joint statement announcing the collaboration, they wrote: "Valentino and L'Oreal have signed a worldwide long-term license agreement for the creation, development and distribution of fine fragrances and luxury beauty under the Valentino brand. Valentino today embodies the image of beauty, of the extraordinary and of modernity, and as such, provides a strong inspiration for fragrance and beauty creation."
Stefano Sassi, the CEO of Valentino is "excited for the potential" of the collaboration, which will come into force in January 2019.
He said: "We are very excited to start this new venture together with L'Oreal to further develop our beauty business. We believe Valentino has great potential within the category and that with L'Oreal's unparalleled expertise in the sector, we will be able to realize that potential."
And L'Oreal's deputy CEO Nicolas Hieronimus is equally as excited about the partnership, saying Valentino's "unique modernity" will be effectively communicated to the millennial market through the partnership.
He revealed: "We are thrilled to have been granted the license of Maison Valentino. With its unique combination of prestige and modernity, Valentino definitely will appeal to millennial consumers around the globe and ideally complements our brand portfolio."