PARIS: French luxury group Kering is selling its beauty products business, including its leading perfume brand Creed, to cosmetics giant L&#39;Oreal in a deal worth $4.6 billion, the companies said Sunday. Kering, owner of luxury handbag-maker Gucci, and the French grooming giant said in a joint statement they were &quot;entering a long-term strategic partnership in luxury beauty and wellness.&quot; Under the deal, L&#39;Oreal will acquire Kering&#39;s beauty products division, including Creed, they added. They valued the deal at four billion euros overall, subject to regulation, with payment expected in the first half of 2026. &quot;Through Creed, we will establish ourselves as one of the leading players in the fast-growing niche fragrance market,&quot; said L&#39;Oreal chief executive Nicolas Hieronimus in the statement. The companies said the partnership &quot;includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci&quot; after the current licence expires.

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Kering will sell its beauty division, including luxury perfume brand Creed, to L’Oreal for $4.6 billion under a new strategic partnership that also grants L’Oreal future rights to Gucci beauty products.

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Gucci owner sells beauty division to L'Oreal for $4.6B

Gucci owner sells beauty division to L'Oreal for $4.6B