The fragrance company Clairol has revealed that it is selling $5 billion worth of its own products in an effort to turn itself into a major player in the perfume industry.
Clairoll Beauty has announced that it will be buying the rights to $1.4 billion worth (about $1,800) of fragrant perfume products from American luxury brand, Dior.
The purchase is a significant boost to the brand, which is still struggling to compete with the likes of Estee Lauder and Michael Kors.
The acquisition will allow Clairosbeauty to enter the fragrance market.
Clients are not required to buy a lot of products from the company in order to access the profits, as long as they do so through a website that allows them to purchase individually.
Clairespense is the latest fragrance company to jump on the fragrance business bandwagon.
Last year, the French cosmetics giant announced that Clairocabos, the company’s flagship fragrance, was on its way to being launched in the United States.