L’Oréal Finalises Kering Beauté Acquisition

L’Oréal has completed its acquisition of Kering Beauté, a deal valued at around €4 billion that brings the prestigious fragrance house Creed into its Luxe Division.

The deal, first announced in October 2025, hands L’Oréal exclusive 50-year licences to develop and distribute beauty lines for both Bottega Veneta and Balenciaga. The agreement also sets a clear path for Gucci; L’Oréal is set to take over the brand’s beauty rights once its current contract with Coty expires, staying in line with Kering’s prior commitments.

Beyond just expanding their portfolios, these two industry leaders are already eyeing what comes next. Both companies confirmed they are exploring a joint venture dedicated to the growing sectors of wellness and longevity.

“This significant new milestone in our strategic partnership with Kering reinforces our position as the world’s number one in both beauty and luxury beauty,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréal. “We will now work together, over the next fifty years, to write the next chapter of these iconic brands, to unlock their immense growth potential.”

The deal marks a strategic pivot for Kering as it scales its beauty business through L’Oréal’s global infrastructure.

“By leveraging L’Oréal’s unmatched expertise in the beauty sector, we are opening a new phase of acceleration for the development of fragrances and cosmetics for our Houses,” said Luca de Meo, CEO of Kering. “This long-term partnership will enable us to fully realize their potential in this category and support their development, drawing on the creativity, desirability, and excellence that set them apart.”