L’Oréal’s takeover of Kering’s beauty division – an operation worth 4 billion euros – was finalized after the green light from the competition authorities, the two French groups announced on Tuesday in separate press releases. The agreement, announced in October 2025, includes the sale of the Creed brand as well as the development of Gucci beauty products after the expiration of the current license with Coty. This acquisition, payée in numéraire by L’Oréalshould notably allow Kering, which has been struggling for several years, to reduce its debt and continue its recovery.
The operation also includes the establishment of exclusive licenses lasting 50 years for the creation, development and distribution of perfume and beauty products from the Bottega Veneta and Balenciaga brands. HAS”By relying on L’Oréal’s unrivaled expertise in the world of beauty, we are opening a new phase of acceleration for the development of the fragrances and cosmetics of our houses, among the most emblematic in the world.argued Luca de Meo, the general director of Kering, quoted in the press releases.
L’Oréal, world number one in beauty
This new stage “allows us to strengthen our position as the world number one in beauty and luxury beauty, and to write together the new chapter of these iconic brands for the next fifty years, in order to unleash their immense growth potential.”commented Nicolas Hieronimus, general director of L’Oréal. The two groups also indicate that they are continuing to explore «opportunités» in the field of well-being and longevity through a joint venture. Kering’s beauty division was created in 2023 with the acquisition of the luxury perfume brand Creed for 3.5 billion euros.
