Try GOLD - Free
Gucci owner selling beauty business to L'Oreal for $6 billion to cut debt, refocus on fashion
The Straits Times
|October 21, 2025
Gucci owner Kering said on Oct 19 it has agreed to sell its beauty business to L’Oreal for €4 billion (S$6 billion), as new chief executive Luca de Meo moves to tackle the luxury group’s high debt and refocus on its core fashion business.
-
Kering CEO Luca de Meo, who took over in September, had told shareholders he planned to take some difficult decisions to reduce debt.
(REUTERS)
Under the deal, French beauty giant L’Oreal will acquire Kering’s fragrance line Creed, as well as rights to develop fragrance and beauty products under Kering’s fashion labels Gucci, Bottega Veneta and Balenciaga under a 50-year exclusive licence. The licence for Gucci fragrances is currently held by Coty, and the new deal will start when that expires, believed by analysts to be in 2028.
This story is from the October 21, 2025 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
RELAXED GAUFF BACK IN BUSINESS
WTA Finals defending champ ousts Paolini to keep alive her hopes of reaching semis
2 mins
November 05, 2025
The Straits Times
Employers' role in uplifting talent key amid uncertainty, says DPM Gan
Employers must play a part to reshape the workforce in line with their changing talent needs, and this effort is core to good business strategy moving forward.
3 mins
November 05, 2025
The Straits Times
Budget for future MRT lines may cover longer stations to boost train capacity
In building future MRT lines, the authorities will see if they can budget in advance for longer stations so that they can increase the capacity of trains when needed, said Acting Transport Minister Jeffrey Siow.
2 mins
November 05, 2025
The Straits Times
Singapore donates $652k to World Food Programme for Gaza
Dr Balakrishnan says S’pore will do its part to support the WFP to fight hunger
3 mins
November 05, 2025
The Straits Times
The dark side of Japanese convenience stores
Rising wages and an ageing workforce put pressure on existing staff.
4 mins
November 05, 2025
The Straits Times
EMBRACES SHOULD SEIZE THE DAY
Nov 5 Hong Kong (Happy Valley) preview
5 mins
November 05, 2025
The Straits Times
Raids on Myanmar scam hubs trigger recruitment rush for other centres
Recent raids on one of Myanmar’s most notorious internet scam hubs sparked a recruitment rush as fleeing workers scrambled to enlist at nearby fraud factories, experts and insiders told AFP.
3 mins
November 05, 2025
The Straits Times
More directors in S'pore-listed firms being paid less than $50k in 2025: Study
Data suggests downward pressure on board remuneration; more firms providing info
5 mins
November 05, 2025
The Straits Times
Jennifer Aniston goes Instagram official with boyfriend Jim Curtis
American actress Jennifer Aniston has finally gone public with her boyfriend, author and life wellness coach Jim Curtis.
1 min
November 05, 2025
The Straits Times
Worker trapped under collapsed tower in Rome dies
A Romanian worker trapped for hours under rubble in Rome on Nov 3 following the partial collapse of a mediaeval tower near the Colosseum has died, local media reported.
1 min
November 05, 2025
Listen
Translate
Change font size