The world's largest cosmetics company has achieved consistent double-digit growth over the past two decades, thanks largely to its ability to target fast growing markets. Growing men's market Through its licensing agreement with the French brand Airness, L'Oreal has once again picked a market with high sales potential to invest in. The global market for men's fragrances grew 7 per cent last year and is expected to continue on the same path and expand 17 per cent to $13bn by 2012, according to market research firm Euromonitor. Pierre-Emmanuel Angeloglou, the head of L'Oreal brand Lascad, said the agreement with Airness would increase its presence in the fast growing men's market adding that it also confirms its number one position in the market for deodorants and fragrances in France. Under the agreement with Airness, L'Oreal will launch three fragrances and six deodorants in April from 3,000 distribution points across France. Marketing opportunity L'Oreal will also be looking to exploit the marketing potential of Airness, which boasts a high level of brand recognition among young French people. "Airness is a very well recognized brand among the under thirties and the values associated with it - audacity, taste for challenge, respect for diversity -fit perfectly with those that we stand for," said Alain Ducasse, the head of Division des Produits Grand Public France de L'Oreal. Leading beauty companies are pulling out the cheque book to work with fashion brands to pull in their established followers and attract new consumers using their creativity. In this case the sporty and masculine branding of Airness will help attract young French men to deodorant and fragrance. Succession of fashion deals The deal is one of a number of partnerships to be announced between leading beauty manufacturers and clothing companies in the last few days. In the past week, Avon has signed deals with Emanuel Ungaro Maison and Marimekko and L'Oreal has joined forces with Maison Martin Margiela. Avon completed its deals on the back of the success of its first partnership with designer brand Christian Lacroix in 2007. The resulting Rouge fragrance line rapidly built a loyal following among Avon consumers making it the company's most successful fragrance launch to date.