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Article: L'OREAL GETS STAKE IN SHU UEMURA.(Brief Article)(Statistical Data Included)
- Article from:
- WWD
- Article date:
- November 27, 2000
- Author:
CopyrightCOPYRIGHT 2000 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO -- L'Oreal and Shu Uemura inked a deal Friday that gives a 35 percent stake in the Japanese cosmetics group to L'Oreal 's Japanese subsidiary, Nihon L'Oreal K.K.
As a result of the deal, L'Oreal will take control of Shu Uemura's international business, including the rights to the brand outside of Japan.
In a telephone interview with WWD in Paris, L'Oreal's general manager of luxury products Gilles Weil said the deal "will strengthen our position in Japan and Asia." However, he added that L'Oreal will also work on increasing the brand's global presence.
"We are going to go worldwide with the brand," Weil said. "Shu Uemura is already ...