L’Oréal and Kering today announced the completion of L’Oréal’s acquisition of Kering Beauté, including the House of Creed, one of the world’s foremost luxury fragrance houses, as well as the signing of fifty-year exclusive licences for the creation, development and distribution of fragrance and beauty products under the Bottega Veneta and Balenciaga brands, in accordance with the terms announced on 19th October 2025.

Regarding the Gucci brand, as previously announced, the rights to enter into a fifty-year exclusive license agreement will begin upon the expiration of the existing license with Coty, in full compliance with the Kering Group’s obligation under their current license arrangement.

L’Oréal and Kering are also continuing to explore development opportunities in the fields of wellness and longevity through a joint venture.

"On behalf of the Group, I am delighted to welcome these extraordinary brands into the L’Oréal family,” said Nicolas Hieronimus, Chief Executive Officer of L’Oréal. “This significant new milestone in our strategic partnership with Kering reinforces our position as the world’s number one in both beauty and luxury beauty.  We will now work together, over the next fifty years, to write the next chapter of these iconic brands, to unlock their immense growth potential."

"This acquisition marks a defining milestone for L’Oréal Luxe. By bringing these iconic houses into our portfolio, we are uniting around the very essence of luxury: bold creativity, exceptional craftsmanship, and a forward-looking vision of beauty” said Cyril Chapuy, President of L’Oréal Luxe. “I’m especially proud to welcome the teams behind these maisons, who contribute to their unique identity. Together, we are strengthening L’Oréal Luxe’s leadership and reinforcing our ambition to be the ultimate destination for the world’s most aspirational luxury beauty experiences.”

“Our strategic alliance with L’Oréal marks a decisive step forward for Kering”, said Luca de Meo, CEO of Kering. “By leveraging L’Oréal’s unmatched expertise in the beauty sector, we are opening a new phase of acceleration for the development of fragrances and cosmetics for our Houses, among the most iconic in the world. This long-term partnership will enable us to fully realize their potential in this category and support their development, drawing on the creativity, desirability, and excellence that set them apart.”