L’Oréal acquires Kering Beauté

The two parties have reached a €4 billion agreement for the sale of the luxury group's perfume and cosmetics business – launched in 2023 – to the beauty giant. L'Oréal is taking over Maison Creed and securing 50-year exclusive licences for Gucci – after the expiry of the partnership with Coty – Bottega Veneta and Balenciaga. The companies will also create a joint venture dedicated to well-being and longevity, combining L'Oréal's beauty expertise and Kering's knowledge of luxury.