L’Oréal Completes Acquisition of Kering Beauté

L’Oréal has completed its acquisition of Kering Beauté within the framework of its strategic alliance with Kering. The deal includes the House of Creed, a luxury fragrance house, and covers 50-year exclusive licences for the creation, development, and distribution of fragrance and beauty products under the Bottega Veneta and Balenciaga brands.

For the Gucci brand, L’Oréal will begin the process to enter into a 50-year exclusive licence agreement upon expiration of the existing licence with Coty, consistent with Kering’s current licence obligations. L’Oréal and Kering also continue exploring a joint venture focused on wellness and longevity opportunities.