Gucci-owner Kering has agreed to sell its beauty business to L’Oreal for 4 billion euros ($4.7 billion) in a strategic shift by new CEO Luca de Meo, who is trying to cut the luxury group’s debt and refocus on its fashion business.
WHAT IS THIS SALE ABOUT?
The sale, which includes fragrance line Creed and long-term fragrance licences for Bottega Veneta, Balenciaga and Gucci, is a big step in cutting Kering’s debt, a key investor concern.
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“The proceeds will strengt… [2872 chars]
Source: Reuters | Published: 2025-10-20T11:21:06Z
Credit: Reuters
