L'Oréal and Valentino have announced a worldwide long-term license agreement for the creation, development and distribution of fine fragrances and luxury beauty under the Valentino brand. Founded in 1960 in Rome, Maison Valentino holds a unique role in the luxury universe thanks to its long standing tradition in Haute Couture and the innovative contemporary vision of Creative Director Pierpaolo Piccioli. The agreement will be effective as of 1 January 2019, after customary regulatory approvals, if any. Nicolas Hieronimus, Deputy CEO of L'Oréal, said "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." Stefano Sassi, CEO of Valentino, said "We are very excited to start this new venture together with L'Oréal to further develop our beauty business. We believe Valentino has great potential within the category and that with L'Oréal's unparalleled expertise in the sector, we will be able to realize that potential." Under the successful direction of CEO Stefano Sassi and Creative Director Pierpaolo Piccioli, 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. The top three most popular fragrances today are Valentino Donna, Valentino Uomo and Valentina.