Editor’s Note
This article reports on Kering’s strategic shift, selling its Creed fragrance division to L’Oréal for a significant profit just two years after its acquisition.
Oct 20 (Reuters) – Gucci-owner Kering on October 20 announced it would sell its beauty division built around high-end fragrance label Creed to French cosmetics giant L’Oreal for 4 billion euros ($4.67 billion). The move came just two years after Kering paid 3.5 billion euros to acquire Creed in a now-revised strategy to diversify away from fashion and leather goods, its main profit drivers.
In January 2017, Italian eyewear giant Luxottica merged with French lens maker Essilor in a 46 billion euro ($49 billion) deal, creating the world’s largest eyewear group.
In November 2019, France’s LVMH reached a definitive agreement to acquire U.S. jewellery giant Tiffany & Co. in an all-cash deal valued at $16.2 billion.
In April 2017, French billionaire and LVMH owner Bernard Arnault consolidated his control over Christian Dior holding company via a 12-billion-euro transaction. Under a series of complex deals, LVMH bought the Christian Dior Couture brand from the Christian Dior holding company for 6.5 billion euros, including debt.
In February 2019, JAB Holding increased its stake in beauty company Coty Inc. to 60% from 40% in a deal valued at up to $11.65 per share, totalling about $9.4 billion.
In February 2014, L’Oréal bought back 8% of its own shares from Switzerland’s Nestlé for 6.5 billion euros. As of October 2025, the Swiss group is L’Oréal’s second-biggest shareholder, with a 20.16% stake, according to LSEG data.
In March 2011, France’s LVMH bought Italian brand Bulgari for 3.7 billion euros.
Estee Lauder agreed to buy U.S. fashion label Tom Ford for $2.8 billion in November 2022, adding a line of beauty products and apparel to the Clinique brand owner’s portfolio.
L’Oréal acquired Australian luxury brand Aesop from Natura & Co for around $2.5 billion in April 2023, growing its presence in high-end cosmetics with an eye to international expansion, including in China.
Handbag maker Coach bought Kate Spade & Co for $2.4 billion in May 2017 in an attempt to tap the popularity of its smaller rival’s quirky satchels and totes among millennials.
Prada in April 2025 struck a deal to buy smaller rival Versace from Capri Holdings in a move to unite two of the biggest names in Italian fashion. The deal has an enterprise value of $1.375 billion, Prada said.
(1 euro = $1.0829)
($1 = 0.8573 euros)