PARIS / LONDON (IT BOLTWISE) – French cosmetics group L’Oreal plans to significantly expand its portfolio by acquiring Kering’s cosmetics division for four billion euros. This strategic acquisition includes, among others, the renowned perfume brand Creed. In addition, L’Oreal secured the rights to develop cosmetic products for Kering fashion brands such as Bottega Veneta and Balenciaga for the next 50 years.
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The French cosmetics giant L’Oreal has announced that it will take over the cosmetics division of the luxury goods group Kering for four billion euros. This strategic acquisition includes the Creed perfume brand and will help L’Oreal further strengthen its position in the global beauty market. The acquisition is part of a broader strategy to diversify L’Oreal’s portfolio and enter new market segments.
A key part of the deal is the long-term partnership with Kering, which will enable L’Oreal to develop cosmetic products for Kering fashion brands such as Bottega Veneta and Balenciaga for the next 50 years. This agreement could give L’Oreal a significant competitive advantage, as Kering’s brands are known worldwide for their exclusivity and quality.
The acquisition takes place in a dynamic market environment in which luxury and cosmetics brands are increasingly looking for synergies to secure and expand their market shares. Experts see the acquisition as a smart move by L’Oreal to strengthen its market presence and benefit from the growing demand for luxury and niche perfumes.
This transaction could also have an impact on competition in the cosmetics sector as other major players may consider similar moves to strengthen their positions. The integration of the Kering division into the L’Oreal portfolio is expected to be completed over the next year, subject to regulatory approvals.
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