It was only a few minutes ago that MFF reported the news officially announcing the partnership between luxury group Kering and beauty giant L’Oréal. Shortly after the Paris Stock Exchange closed, the conglomerate that heads Gucci and Saint Laurent and the leading beauty company confirmed the finalization of their strategic alliance under terms announced last Oct. 19, 2025.
The €4 billion maxi deal is one of the first moves by CEO Luca de Meo, who was appointed in September, and includes the sale of the Kering beauté division and the historic high-end perfumery brand Creed, as well as exclusive licenses for 50 years to create, develop, and distribute fragrances and beauty products for the Bottega Veneta and Balenciaga fashion houses.
In addition, L’Oréal, which has already operated YSL Beauty under license since 2008, will have the right to enter into an exclusive 50-year license to create, develop and distribute fragrances and beauty line for Gucci as well, starting with the expiration in 2028 of the current contract with Coty. Kering and L’Oréal are also continuing to explore development opportunities in the wellness and longevity sectors through a joint venture. The transaction anticipated last fall has officially received approval from competition authorities.
“Our strategic alliance with L’Oréal represents a decisive step forward for Kering,” de Meo told MFF. “By leveraging L’Oréal’s incomparable expertise in the beauty sector, we are opening a new phase of acceleration in the development of fragrances and cosmetics for our maisons, which are among the most iconic in the world. This long-term partnership will enable us to fully exploit their potential in this category and support their development.”
[📷loreal.com]
