France $47 Billion Luxury Group & Owner of Gucci Brand Kering Sells Beauty & Fragrance License (Including House of Creed) to $246 Billion L’Oreal for $4.6 Billion (€4 Billion), Forms Long-Term Strategic Partnership Including 50-Year License Granted to L’Oreal for Creation of Fragrance & Beauty Products of Bottega Veneta & Balenciaga
26th October | Hong Kong
France luxury group & owner of Gucci brand Kering ($47 billion market value) has announced to sell beauty & fragrance license (Including House of Creed) to L’Oreal ($246 billion market value) for $4.6 billion (€4 billion), and forms long-term strategic partnership with 50-year license granted to L’Oreal for creation of fragrance & beauty products of Bottega Veneta & Balenciaga. Kering – Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across couture and ready-to-wear, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering’s Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion. L’Oréal – For 115 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality. With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
“ France $47 Billion Luxury Group & Owner of Gucci Brand Kering Sells Beauty & Fragrance License (Including House of Creed) to $246 Billion L’Oreal for $4.6 Billion (€4 Billion), Forms Long-Term Strategic Partnership Including 50-Year License Granted to L’Oreal for Creation of Fragrance & Beauty Products of Bottega Veneta & Balenciaga “
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France $47 Billion Luxury Group & Owner of Gucci Brand Kering Sells Beauty & Fragrance License (Including House of Creed) to L’Oreal for $4.6 Billion (€4 Billion), Form Long-Term Strategic Partnership Including 50-Year License Granted to L’Oreal for Creation of Fragrance & Beauty Products of Bottega Veneta & Balenciaga
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