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Tag: Euro
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Kering Strikes €4 Billion Beauty Division Sale to L’Oreal in Strategic Partnership
French luxury group Kering has reportedly agreed to sell its beauty division to cosmetics giant L’Oreal in a strategic partnership valued at €4 billion. The deal includes the transfer of high-end fragrance label Creed, which Kering acquired just last year to build its beauty platform.
Major Beauty Industry Realignment
French luxury conglomerate Kering has reportedly reached an agreement to sell its beauty division to global cosmetics leader L’Oreal in a partnership arrangement valued at €4 billion ($4.7 billion), according to statements issued by both companies. Sources indicate the deal represents a strategic shift for Kering as it navigates challenging market conditions while aiming to accelerate growth in the beauty segment through partnership with the industry’s dominant player.