Kering and L’Oréal announce $4.6b partnership in luxury beauty and wellness

It is expected to close in the first half of 2026.

Kering and L’Oréal have signed a $4.6b (€4b) strategic partnership covering luxury beauty, fragrance, and wellness.

As part of the deal, L’Oréal will acquire the House of Creed and obtain 50-year exclusive licenses for the Gucci, Bottega Veneta, and Balenciaga beauty and fragrance lines.

The transaction, valued at $4.6b (€4b) and payable in cash, is expected to close in the first half of 2026.

Kering Beauté, including Creed, may be sold to L’Oréal under the terms of the agreement. Creed, known for its high-end fragrances and craftsmanship, will join L’Oréal Luxe to expand its global reach across men’s and women’s markets.

The two companies will also create a strategic committee to coordinate brand and product development.

Beyond beauty, Kering and L’Oréal plan to form a 50/50 joint venture focused on wellness and longevity, combining Kering’s luxury expertise with L’Oréal’s innovation in beauty and science.