Intentar ORO - Gratis
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.
Esta historia es de la edición October 21, 2025 de The Straits Times.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE The Straits Times
The Straits Times
Sabah grapples with chronic water shortages ahead of November election
Limited access to treated water, infrastructure woes plague Malaysia's second-largest state; Anwar pledges to tackle issues
3 mins
November 15, 2025
The Straits Times
Analysts positive on DBS and OCBC, but cautious on UOB
Analysts are positive on DBS Bank and OCBC Bank after the two banks posted strong third-quarter results, but more wary of UOB, whose earnings for the period were hit by higher loan provisions.
5 mins
November 15, 2025
The Straits Times
MLS to move to summer off-season like Europe
Major League Soccer (MLS) will overhaul its competition calendar beginning in 2027, switching to a summer-to-spring season that aligns with Europe's top leagues and moving its playoffs to May, the league announced on Nov 13.
2 mins
November 15, 2025
The Straits Times
FAKER'S HUMANITY AS REAL AS IT GETS
In The Spotlight
5 mins
November 15, 2025
The Straits Times
$390m committed to climate-related health research as rising temperatures cause more deaths
With more than half a million people worldwide dying from heat-related causes every year, a group of philanthropies is putting US$300 million (S$390 million) into developing lifesaving solutions as global temperatures continue to rise.
2 mins
November 15, 2025
The Straits Times
Warriors just need to ‘get out of Curry’s way’
The Golden State Warriors are aiming for a mini road sweep of the San Antonio Spurs and seeking their first win in National Basketball Association (NBA) Cup play when the two teams square off on Nov 14 (Nov 15, Singapore time).
2 mins
November 15, 2025
The Straits Times
UNREAL ESTATE
Why more property agents in Singapore are using Al-generated images to sell homes
5 mins
November 15, 2025
The Straits Times
$429m arms sale to Taipei approved; first under Trump
The US approved the sale of fighter jet and other aircraft parts to Taiwan for US$330 million (S$429 million) on Nov 14, marking the first such transaction since President Donald Trump took office in January, drawing thanks from Taipei and anger in Beijing.
1 mins
November 15, 2025
The Straits Times
Jail for ex-CNB officer who misappropriated $1,300 from two men
A former Central Narcotics Bureau (CNB) investigation officer (IO) who misappropriated nearly $1,300 in cash from two men following their arrest was sentenced to 13 months’ jail on Nov 14.
2 mins
November 15, 2025
The Straits Times
growing unease in Laos
The velocity of Chinese money has grated on many Laotians.
5 mins
November 15, 2025
Listen
Translate
Change font size