The French luxury group Dry sold his beauty division to his compatriot L’Orealas well as the development of beauty products Gucci after the expiration of your current license with Cotyaccording to a joint statement.
The announcement came just a month after the entry into office of Luca De MeoCEO of Kering, charged with revitalizing the group that has faced difficulties for years due to problems with its main brand, Gucci.
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The deal, which includes the sale of Creed and the establishment of 50-year licenses for Kering’s iconic brands, amounts to €4 billion (85,699 million pesos) payable at the time of carrying out the operation, scheduled for the first half of 2026, according to the statement.
L’Oréal will also pay royalties to Kering for use of the licensed brands.
The partnership includes “the rights to conclude an exclusive 50-year license agreement for the creation, development and distribution of Gucci perfumery and beauty products, beginning upon expiration of the current license with Coty,” it adds.
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According to a note from analysts HSBCthe license with the American Coty expires in 2028.
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