Overview
- L'Oréal completed the purchase Tuesday for €4 billion in cash, taking over Kering Beauté and the House of Creed.
- The alliance includes 50-year exclusive licenses for Bottega Veneta and Balenciaga fragrance and beauty lines.
- Gucci beauty rights will shift to L'Oréal only after Coty's existing license expires, honoring Kering's current contract.
- Competition authorities cleared the agreement before closing, and L'Oréal will pay ongoing royalties to Kering.
- The companies are exploring a wellness and longevity joint venture, as the beauty sector sees major consolidation reported by WWD.