"Joining forces with the global leader in beauty, we will accelerate the development of fragrance and cosmetics for our major houses, allowing them to achieve scale in this category and unlock their immense long-term potential, as did Yves Saint Laurent Beauté under L'Oréal's stewardship,"
"Creed is one of the fastest growing players in the niche fragrance market, while Gucci, Bottega Veneta and Balenciaga are "exceptional couture brands with enormous potential for growth.""
Kering is selling its beauty division to L'Oréal for 4 billion euros. L'Oréal will acquire the House of Creed high-end fragrance company and licenses to create beauty and fragrance products for Kering brands including Gucci, Bottega Veneta and Balenciaga. A strategic committee will be established to ensure coordination between Kering brands and L'Oréal. The companies will explore joint business opportunities in the wellness and longevity market, combining L'Oréal's innovation with Kering's luxury client insight. The transaction follows a 2008 precedent with Yves Saint Laurent Beauté, is all-cash, includes royalties to Kering, and is expected to close in the first half of 2026.
Read at Fast Company
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