Kering And L’Oréal Double Down On Their Strengths In $4.7 Billion Beauty Deal
The post Kering And L’Oréal Double Down On Their Strengths In $4.7 Billion Beauty Deal appeared on BitcoinEthereumNews.com.
Bus advertising featuring a large scale picture of a beauty model for Loreal Paris Panorama Volumising Mascara make up on 7th April 2024 in London, United Kingdom. (photo by Mike Kemp/In Pictures via Getty Images) In Pictures via Getty Images L’Oréal, the world’s leading beauty company, has reached an approximately $4.7 billion (€4 billion) agreement to acquire Kering Beauté business, including its flagship Creed fragrance brand. The deal is framed as a 50-year strategic partnership aimed at developing beauty and wellness products for Kering’s luxury houses, including Gucci, Bottega Veneta and Balenciaga. L’Oréal currently partners with Kering’s Yves Saint Laurent brand. Besides winning the Creed prize – Kering acquired Creed in mid-2023 for an estimated $3.8 billion, which the Wall Street Journal reported as the largest selling high-end fragrance brand after Jo Malone, owned by Estée Lauder – L’Oréal also will gain exclusive licensing rights to Kering’s other brands in fragrances and beauty. On a side note, Gucci is currently licensed to Coty until 2028, at which time it will revert to L’Oréal. The companies are also entering into a 50/50 joint venture to explore further business opportunities combining luxury, wellness and longevity. As in the best deals, both partners emerge as winners. “This partnership will further solidify our position as the world’s #1 luxury beauty company and allow us to explore new avenues in wellness together,” L’Oréal Groupe CEO Nicolas Hieronimus said in a statement. Kering CEO Luca de Meo added, “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.” The all-cash deal is contingent on French regulatory approvals and is expected to be…
Filed under: News - @ October 21, 2025 8:27 pm