Beauty business: Kering sells beauty division to L’Oreal; $4.6 billion deal sealed
Kering is selling its beauty division, including the prestigious perfume brand Creed, to L’Oreal for $4.6 billion. This strategic move aims to significantly reduce Kering’s substantial debt. The deal also includes 50-year exclusive licenses for L’Oreal to produce beauty products for Kering’s major fashion houses.🕒 1 min read
Kering is selling its beauty division, including the prestigious perfume brand Creed, to L’Oreal for $4.6 billion. This strategic move aims to significantly reduce Kering’s substantial debt. The deal also includes 50-year exclusive licenses for L’Oreal to produce beauty products for Kering’s major fashion houses.
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