GUCCI-OWNER KERING SELLS BEAUTY UNIT TO L'OREAL FOR $4.7 BILLION AS DE MEO TARGETS DEBT PILE
- NEWS Desk Global
- Oct 20, 2025
- 1 min read
Gucci owner Kering has agreed to sell its beauty business to L'Oreal for 4 billion euros ($4.7 billion), the first major gambit by new CEO Luca de Meo as he stamps his mark on the luxury group and cuts back its debt pile.
Under the deal, French beauty giant L'Oreal will acquire Kering's fragrance line Creed, as well as exclusive rights to develop fragrance and beauty products for 50 years under Kering's fashion labels including Bottega Veneta and Balenciaga.
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