The two giants have announced a long-term strategic agreement. While initially involving the sale of British perfumer Creed, the establishment of 50-year licenses for Kering’s iconic brands (including Gucci) and a joint venture in the luxury and wellness sector, the sale of Kering Beauty to L’Oréal is also being considered in the long term.
He had promised clear and strong choices. One month after officially taking over as CEO of Kering, Luca de Meo, the former head of Renault, has made it clear that there is indeed a new pilot at the helm.
On Sunday, October 19, the luxury group announced a long-term strategic partnership with L’Oréal, with the ultimate goal of selling its Beauty division. Kering is thus refocusing on its core business, fashion.
Two stages
Two main stages are planned, under the leadership of a strategic committee that will “ensure coordination between the Kering and L’Oréal brands” and “monitor the progress” of the partnership.
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Featured photo: © Creed
