French luxury goods company Kering announced it is selling its beauty division to L’Oréal for 4 billion euros ($4.66 billion). The deal includes the acquisition of the high-end fragrance company House of Creed, along with licenses to produce beauty and fragrance products for Kering brands such as Gucci, Bottega Veneta, and Balenciaga. A strategic committee will be formed to coordinate efforts between Kering brands and L’Oréal, and both companies are exploring business opportunities in wellness and longevity markets. This move builds on L’Oréal’s earlier acquisition of the Yves Saint Laurent beauty license from Kering in 2008. The all-cash transaction is expected to close in the first half of 2026, with L’Oréal also paying royalties to Kering for licensed brand use.
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