L'Oréal completes the acquisition of Kering Beauté as part of its strategic cooperation with Kering

L'Oréal and Kering today announced the completion of L'Oréal's acquisition of Kering Beauté, which included the House of Creed, one of the world's leading luxury fragrance houses, as well as the signing of fifty-year exclusive licenses for the creation, development, and distribution of fragrance and beauty products under the Bottega Veneta and Balenciaga brands, in accordance with the terms announced on October 19, 2025.

As previously disclosed, the rights to enter into a fifty-year exclusive license agreement for the Gucci brand will commence following the expiration of the existing license with Coty, in complete conformity with the Kering Group's responsibility under their present license arrangement.

L’Oréal and Kering are also continuing to explore development opportunities in the fields of wellness and longevity through a joint venture.

"On behalf of the Group, I am thrilled to welcome these great companies into the L'Oréal family', said Nicolas Hieronimus, L'Oréal's CEO. "This significant new milestone in our strategic partnership with Kering strengthens our position as the world's leader in both beauty and luxury beauty." We will now collaborate over the next fifty years to write the next chapter of these legendary companies and unleash their enormous growth potential."

"This acquisition marks a watershed moment for L'Oréal Luxe. By include these renowned brands in our portfolio, we are bringing together the very essence of luxury: bold creativity, exquisite craftsmanship, and a forward-thinking vision of beauty," said Cyril Chapuy, President of L'Oréal Luxe. "I'm particularly pleased to welcome the staff behind these maisons, who contribute to their distinct identities. Together, we are enhancing L'Oréal Luxe's leadership and confirming our mission to be the ultimate destination for the world's most coveted premium beauty experiences."

"Our strategic alliance with L'Oréal represents a decisive step forward for Kering," stated Luca de Meo, CEO of Kering. "By utilising L'Oréal's unrivalled expertise in the beauty business, we are launching a new phase of acceleration for the development of perfumes and cosmetics for our Houses, which are among the most recognisable in the world. This long-term cooperation will allow us to completely realise their potential in this sector and help their growth, leveraging their originality, desirability, and brilliance."

Source: L'Oreal Groupe