Kering to sell beauty unit to L’Oreal for $4.66 billion
PositiveU.S News

Kering has announced the sale of its beauty unit to L’Oreal for a substantial $4.66 billion. This deal includes the acquisition of Kering's renowned fragrance line, Creed, along with exclusive rights to develop products under its prestigious fashion labels, Bottega Veneta and Balenciaga, for the next 50 years. This acquisition is significant as it strengthens L’Oreal's position in the luxury beauty market and allows Kering to focus on its core fashion business.
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