22-October-2025
Corporate News
 
Gucci owner sells beauty unit to L'Oreal for $4.7 billion
21-Oct-2025

Gucci owner Kering has agreed to sell its beauty business to L'Oreal for Rs 4 billion ($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.

News Source:- https://economictimes.indiatimes.com/news/international/business/gucci-owner-sells-beauty-unit-to-loreal-for-4-7-billion/articleshow/124709992.cms