Kering Sells Beauty Division to L’Oréal for Approximately $4.6 Billion
Kering and L’Oréal have announced a strategic partnership involving the acquisition of Creed by L’Oréal, licensing agreements for Gucci, Bottega Veneta, and Balenciaga, and a joint venture exploring wellness and longevity, valued at €4 billion, to enhance growth and innovation in luxury beauty and wellness sectors.