French luxury group Kering has sold its perfume brand Creed to cosmetics giant L’Oréal. The two giants are also entering into a long-term partnership, with new licensing agreements for the beauty activities of various Kering fashion houses.
Four billion euros
With Creed, L’Oréal is strengthening its position with a brand of high-end perfumes, which should further accelerate the international growth of its luxury division – both in the men’s and women’s markets.
