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During the economic crisis, mergers and acquisitions are rarely completed, but L'Oréal has just completed the acquisition of both Mugler and Azzaro perfumes.

The deal took place, despite the complicated market situation caused by the coronavirus pandemic, Fashion United reported.

“We are delighted to welcome in the L’Oréal family the staff of Mugler and Azzaro, who are now with us. We will do our best to take care of them at this very difficult time,” said Cyril Chapuy, president of L'Oréal Luxe, in a statement.

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