THE WHAT? Rumors are swirling around L’Oreal and Omani perfume brand Amouage. The French beauty behemoth is said to be in private talks to acquire a minority stake in the luxury fragrance line.

THE DETAILS According to a report published by Bloomberg, quoting anonymous sources, Amouage owner, SABCO Group is seeking a valuation in excess of €3 billion for the business. Retail sales rose to US$210 million for 2023, Bloomberg reveals.

THE WHY? All parties declined to comment when contacted by Bloomberg but with luxury fragrance sales booming, and L’Oreal seeking to continue to extend its geographic reach, a potential deal is a logical step.