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Under the agreement, Clichy, France-based L’Oreal will acquire
the House of Creed high-end fragrance company as well as
licenses to create beauty and fragrance products for Kering
brands like Gucci, Bottega Veneta and Balenciaga.
The companies said they will establish a strategic committee to
ensure coordination between Kering brands and L’Oréal. Kering
and L’Oréal said they are also exploring joint business
opportunities in the wellness and longevity market, combining
L’Oreal’s innovation with Kering’s deep understanding of luxury
clients.
The deal has some precedence. L’Oreal acquired the beauty
license for Kering’s Yves Saint Laurent brand in 2008.
Luca de Meo, CEO of Paris-based Kering, said the deal combines
L’Oreal’s expertise with Kering’s luxury reach.
“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,” de Meo said in a
statement.
Nicolas Hieronimus, the CEO of L’Oreal Groupe, said 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.”
The all-cash deal is expected to close in the first half of
2026. L’Oréal will also pay royalties to Kering for the use of
its licensed brands.
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