L’Oréal Acquires Creed and Secures Long-Term Beauty Licenses for Gucci, Bottega Veneta, and Balenciaga in Strategic Partnership with Kering

L’Oréal Acquires Creed and Secures Long-Term Beauty Licenses for Gucci, Bottega Veneta, and Balenciaga in Strategic Partnership with Kering

(IN BRIEF) Kering and L’Oréal have entered into a €4 billion strategic alliance that will reshape the luxury beauty and wellness sectors. The agreement includes L’Oréal’s acquisition of the House of Creed, long-term exclusive beauty and fragrance licenses for Gucci, Bottega Veneta, and Balenciaga, and the creation of a 50/50 joint venture focused on wellness and longevity. This partnership unites Kering’s luxury brand heritage with L’Oréal’s scientific expertise to expand across new, high-growth beauty segments. Both companies highlighted the move as a milestone collaboration that deepens their shared legacy while unlocking opportunities in sustainable and science-backed luxury innovation. The transaction is expected to close in the first half of 2026, pending regulatory approval.

(PRESS RELEASE) PARIS / CLICHY, 20-Oct-2025 — /EuropaWire/ — Kering and L’Oréal have announced a transformative long-term strategic partnership designed to redefine the global luxury beauty and wellness landscape. The binding agreement, valued at approximately €4 billion, includes the sale of the House of Creed to L’Oréal, the establishment of 50-year exclusive beauty and fragrance licenses for several of Kering’s most iconic Houses, and the creation of a new joint venture exploring innovation at the intersection of luxury, wellness, and longevity.

This alliance builds upon the longstanding collaboration between the two global leaders, which began with the success of Yves Saint Laurent Beauté. Combining Kering’s heritage of creative excellence with L’Oréal’s unmatched expertise in luxury beauty, the partnership aims to unlock new growth opportunities and accelerate value creation across multiple high-potential categories.

Under the agreement, Kering will sell Kering Beauté, including the prestigious House of Creed, to L’Oréal. Known for its craftsmanship, artisanal heritage, and use of rare natural ingredients, Creed is one of the world’s most celebrated luxury fragrance houses. As part of the L’Oréal Luxe division, Creed will gain a stronger platform to expand globally across both men’s and women’s markets.

The deal also grants L’Oréal exclusive 50-year licenses to create, develop, and distribute fragrance and beauty lines for Gucci, Bottega Veneta, and Balenciaga. The Gucci license will commence following the expiration of Kering’s current agreement with Coty, while the other licenses will begin upon completion of the transaction.

In addition to the beauty segment, Kering and L’Oréal will establish a 50/50 joint venture dedicated to exploring new business opportunities within wellness and longevity — a rapidly growing segment merging beauty, science, and lifestyle innovation. The collaboration will blend L’Oréal’s scientific and technological capabilities with Kering’s deep understanding of luxury clientele and brand desirability.

A strategic committee will be formed to ensure alignment between both groups and oversee the progress of this partnership. Completion of the transaction is expected in the first half of 2026, subject to customary regulatory approvals and compliance with French employment regulations.

“This strategic alliance marks a decisive step for Kering,” said Luca de Meo, CEO of Kering. “Partnering with the global leader in beauty enables us to accelerate the development of fragrance and cosmetics for our major Houses, replicating the success of Yves Saint Laurent Beauté under L’Oréal’s expertise. Together, we are expanding into new realms of wellness while staying true to our creative identity and the power of our brands.”

Nicolas Hieronimus, CEO of L’Oréal Groupe, added: “This partnership reinforces our leadership in luxury beauty and opens new frontiers in wellness. The addition of Creed, along with the beauty licenses of Gucci, Bottega Veneta, and Balenciaga, enriches our portfolio and strengthens our presence in the high-end fragrance and beauty segments. We are thrilled to join forces with Kering to shape the future of luxury.”

About Kering

Kering is a global, family-led luxury group, home to people whose passion and expertise nurture creative Houses across couture and ready-to-wear, leather goods, jewelry, eyewear and beauty: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, McQueen, Brioni, Boucheron, Pomellato, Dodo, Qeelin, Ginori 1735, as well as Kering Eyewear and Kering Beauté. Inspired by their creative heritage, Kering’s Houses design and craft exceptional products and experiences that reflect the Group’s commitment to excellence, sustainability and culture. This vision is expressed in our signature: Creativity is our Legacy. In 2024, Kering employed 47,000 people and generated revenue of €17.2 billion.

About L’Oréal Groupe

For 115 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L’Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2023 the Group generated sales amounting to 41.18 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. 

Contacts Kering

Press

Emilie Gargatte       +33 (0)1 45 64 61 20       emilie.gargatte@kering.com
Caroline Bruel       +33 (0)1 45 64 62 53       caroline.bruel-ext@kering.com

Analysts/investors

Claire Roblet       +33 (0)1 45 64 61 49       claire.roblet@kering.com
Aurélie Husson-Dumoutier        +33 (0)1 45 64 60 45       aurelie.husson-dumoutier@kering.com

Contacts L’Oréal

Individual shareholders

Pascale Guérin      +33 (0)1 49 64 18 89       pascale.guerin@loreal.com

Financial analysts and institutional investors

Eva Quiroga       +33 (0)7 88 14 22 65       eva.quiroga@loreal.com

Media

Brune Diricq       +33 (0)6 63 85 29 87       brune.diricq@loreal.com
Arnaud Fraboul       +33 (0)6 40 13 62 14       arnaud.fraboul@loreal.com

SOURCE: Kering