Overview

• The agreement includes the House of Creed and long-term exclusive licenses for fragrance and beauty across Gucci, Bottega Veneta and Balenciaga.
• L’Oréal’s rights to Gucci beauty will begin after the current Coty license ends, which analysts expect around 2028.
• Closing is targeted for the first half of 2026, pending customary conditions and regulatory approvals.
• Kering will receive royalties and the partners will create a strategic committee, with a planned 50/50 joint venture to pursue luxury wellness and longevity.
• Shares in Kering rose roughly 5% after the announcement, and the transaction is described as L’Oréal’s largest acquisition to date.