L’Oréal has completed its acquisition of Kering Beauté — including the House of Creed — in a 4 billion euros ($4.64 billion) cash deal, also securing exclusive 50-year licenses to develop and distribute fragrances and beauty products for Balenciaga and Bottega Veneta. The Gucci license, currently held by Coty, will transfer to L’Oréal once existing obligations expire. The deal includes a royalty scheme and a joint venture focused on emerging categories including longevity and wellness. “This new milestone strengthens our position as the world’s number one in luxury beauty,” said L’Oréal CEO Nicolas Hieronimus.

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