L'Oréal acquires Mugler and Azzaro perfumes

Typically an economic downturn is a rare time for mergers and acquisitions, but L'Oréal has just completed the acquisition of both Mugler and Azzaro perfumes. Last year, the cosmetics conglomerate announced a deal with Clarins to purchase the two perfume brands, and in the midst of a global pandemic, they somehow have managed to finalize the deal.