Kering’s sale of its beauty business to L’Oreal will result in a “net gain before tax” in Kering’s annual results, COO Jean-Marc Duplaix told analysts in a call on Wednesday when asked if the transaction would lead to a writedown.
Under the deal announced on Sunday, L’Oreal agreed to pay 4 billion euros for Kering’s premium fragrance brand House of Creed, which it bought for 3.5 billion euros in 2023, as well as exclusive rights to develop fragrance and beauty products for 50 … [431 chars]
Source: Reuters | Published: 2025-10-22T16:58:16Z
Credit: Reuters
