Editor’s Note
This article reports on Kering’s sale of its Beauty division, including the Creed brand, to L’Oréal for €4 billion—a move occurring just two years after Kering’s initial acquisition of the perfumer.
On October 20, 2025, Kering (PRTP.PA), the parent company of Gucci, announced the sale of its Beauty division, which includes the prestigious perfume brand Creed, to the French cosmetics giant L’Oréal (OREP.PA) for 4 billion euros.
Here are the ten largest acquisitions by value in the global luxury sector in recent years:
In January 2017, the Italian eyewear giant Luxottica merged with the French lens manufacturer Essilor, a 46-billion-euro transaction that created the world’s largest company in the sector.
In November 2019, France-based LVMH reached a definitive agreement to acquire the American jewelry giant Tiffany & Co. in an all-cash transaction valued at $16.2 billion (€13.89 billion).
In April 2017, French billionaire and owner of LVMH (LVMH.PA), Bernard Arnault, consolidated his control over the holding company Christian Dior (DIOR.PA) through a €12 billion transaction.
In February 2019, JAB Holding increased its stake in beauty company Coty Inc (COTY.N) to 60% from 40% in a transaction valued at up to $11.65 per share, totaling approximately $9.4 billion.
In February 2014, L’Oréal bought back 8% of its own shares from Nestlé (NESN.S) for €6.5 billion. As of October 2025, the Swiss group remains L’Oréal’s second-largest shareholder with a 20.16% stake, according to LSEG data.
In March 2011, LVMH repurchased the Italian brand Bulgari for €3.7 billion.
Estée Lauder (EL.N) agreed to buy the American fashion brand Tom Ford for $2.8 billion in November 2022, adding a range of beauty and ready-to-wear products to the portfolio of the owner of Clinique.
L’Oréal acquired the Australian luxury brand Aesop from Natura & Co for approximately $2.5 billion in April 2023, strengthening its presence in high-end cosmetics with a goal of international expansion, particularly in China.
Handbag maker Coach bought Kate Spade & Co for $2.4 billion in May 2017, in an attempt to capitalize on the popularity of its smaller rival’s original bags and clutches among millennials.
Prada (1913.F) reached an agreement in April 2025 to repurchase its smaller rival Versace from Capri Holdings (CPRI.N), in a move aimed at uniting two of the biggest names in Italian fashion. The enterprise value amounts to $1.375 billion, according to Prada.