Foto miccreative.vn
The agreement has been approved by antitrust regulators and gives L’Oréal access to the development, production and distribution of cosmetic and perfume products for Kering brands, WWD writes. A key element of the deal was an exclusive 50-year license to work with the Gucci brand. The rights will come into effect after Kering’s existing contract with Coty is finalized.
The management of the acquired assets has been taken over by Stéphane Bézy, who led them as part of the L’Oréal Luxe division. His experience, including many years at Yves Saint Laurent Beauté, should ensure further growth and development of the portfolio.
The companies’ executives have already outlined the strategic importance of the deal. Kering CEO Luca de Meo noted that the partnership will accelerate the development of the group’s cosmetics business. In turn, the head of L’Oréal Nicolas Hieronymus emphasized that the agreement strengthens the company’s leadership in the global market of luxury cosmetics and opens long-term prospects for iconic brands.
In parallel, consolidation processes continue in the market. Spanish company Puig confirmed talks with The Estée Lauder Companies about a possible business combination. However, the parties emphasize that the final decision has not yet been made.
Thus, the deal between L’Oréal and Kering may become one of the key events in the beauty industry, intensifying competition among the major players and forming new long-term alliances in the global market.
