Kering and L’Oréal have unveiled a transformative long-term strategic partnership valued at €4 billion, aimed at redefining luxury beauty and pioneering wellness innovation.
Announced today, the agreement includes L’Oréal’s acquisition of the prestigious House of Creed, exclusive 50-year fragrance and beauty licenses for Gucci, Bottega Veneta, and Balenciaga, and a joint venture to explore luxury wellness and longevity markets.
The deal, expected to close in the first half of 2026, positions L’Oréal to acquire Kering Beauté, including Creed, a heritage name in haute parfumerie renowned for its craftsmanship and rare ingredients. As part of L’Oréal Luxe, Creed is set to accelerate its global expansion in men’s and women’s fragrance markets, capitalizing on the fast-growing niche fragrance sector.
The partnership also grants L’Oréal exclusive rights to develop and distribute fragrance and beauty products for Gucci—post its current Coty license—along with Bottega Veneta and Balenciaga, leveraging L’Oréal’s world-class beauty expertise to scale these iconic brands.
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Beyond beauty, Kering and L’Oréal will launch a 50/50 joint venture to create cutting-edge wellness and longevity experiences, blending L’Oréal’s innovation prowess with Kering’s deep understanding of luxury clientele. A strategic committee will oversee coordination and progress, ensuring alignment between the brands.
“This alliance marks a decisive step for Kering,” said Luca de Meo, CEO of Kering. “Partnering with the global beauty leader allows our Houses to unlock their immense potential in fragrance and cosmetics, while venturing into wellness with L’Oréal’s unrivaled expertise.”
Nicolas Hieronimus, CEO of L’Oréal Groupe, added, “This partnership solidifies our position as the world’s #1 luxury beauty company. With Creed and these extraordinary brands, we’re expanding into dynamic segments and exploring new wellness avenues.”
The €4 billion deal, payable in cash, includes royalties to Kering for its licensed brands and awaits regulatory approvals and compliance with French employment law.
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