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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.
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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.
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