Luxury giant Kering is selling its beauty division to L’Oreal in a €4 billion deal. This move comes as new CEO Luca de Meo aims to turn around the company’s fortunes. The sale includes perfume maker House of Creed, acquired just two years ago. Under the new partnership, L’Oréal will help create products for Kering’s Gucci, Bottega Veneta, and Balenciaga brands, expanding their fragrance offerings.
Source: https://www.bloomberg.com/news/articles/2025-10-19/kering-agrees-to-sell-beauty-division-to-l-oreal-in-partnership