Fashion
Kering and L’Oréal seal €4 billion luxury beauty and wellness deal
Building on the success of Yves Saint Laurent Beauté, this alliance further consolidates the long history of collaboration of two global leaders with complementary strengths — iconic luxury brands of Kering and the world-class expertise of L’Oréal in beauty — to accelerate growth and unlock considerable value across high-potential categories.
Under the terms of this agreement, Kering has the right to sell Kering Beauté including the House of Creed to L’Oréal. A true heritage name in haute parfumerie, Creed stands among the leading high-end luxury fragrance Houses, celebrated for its craftsmanship and mastery of rare natural ingredients. As part of L’Oréal Luxe, Creed will be best positioned to accelerate even further its global development across both men’s and women’s markets.
Kering and L’Oréal have entered a €4 billion strategic partnership spanning luxury beauty, fragrance, and wellness.
The deal includes L’Oréal’s acquisition of Creed and 50-year exclusive licences for Gucci, Bottega Veneta, and Balenciaga fragrances.
The alliance aims to accelerate global growth and explore new frontiers in wellness and longevity.
The partnership includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci, commencing after expiration of the current license with Coty, and respecting the Kering group’s obligations as per the existing license agreement.
Kering will also grant L’Oréal 50-year exclusive licenses for the creation, development, and distribution of fragrance and beauty products for Bottega Veneta and Balenciaga, starting upon closing of the announced transaction.
A strategic committee will be established to ensure coordination between Kering brands and L’Oréal and monitor the progress of our partnership.
The agreement, including the sale of Creed and the establishment of these 50-year licenses on these iconic Houses of Kering, is valued at €4 billion, payable in cash at closing, expected in the first half of 2026. L’Oréal will also pay royalties to Kering for the use of its licensed brands.
Beyond beauty, Kering and L’Oréal are joining forces to explore business opportunities at the intersection of luxury, wellness, and longevity. This exclusive partnership, in the form of a planned 50/50 joint venture, will craft cutting-edge experiences and services combining L’Oréal’s innovation capabilities with Kering’s deep understanding of luxury clients.
“This strategic alliance marks a decisive step for Kering,” declared Luca de Meo, CEO of Kering. “Joining forces with the global leader in beauty, we will accelerate the development of fragrance and cosmetics for our major Houses, allowing them to achieve scale in this category and unlock their immense long-term potential, as did Yves Saint Laurent Beauté under L’Oréal’s stewardship. Together, we will also venture into new frontiers of wellness, combining the unrivalled expertise of L’Oréal with our unique luxury reach. This partnership allows us to focus on what defines us best: the creative power and desirability of our Houses.”
“I am delighted to forge this long-term strategic alliance with one of the world’s most prestigious, creative and visionary luxury groups. This partnership will further solidify our position as the world’s #1 luxury beauty company and allow us to explore new avenues in wellness together.” said Nicolas Hieronimus, CEO L’Oréal Groupe. “The addition of these extraordinary brands perfectly complements our existing portfolio and significantly expands our reach into new, dynamic segments of luxury beauty. Through Creed, we will establish ourselves as one of the leading players in the fast-growing niche fragrance market. Gucci, Bottega Veneta and Balenciaga are all exceptional couture brands with enormous potential for growth.”
The agreement is subject to Kering’s obligations under French employment law, with the right for Kering to sell Kering Beauté to L’Oréal and an exclusivity granted to L’Oréal.
Fibre2Fashion News Desk (RKS)
This was driven by an 8.36-per cent YoY decline in import volume and a 7.76-per cent YoY decrease in average unit prices.
The EU’s apparel imports fell by 15.48 per cent YoY in January to €7.03 billion, according to Eurostat.
Bangladesh’s apparel exports to the EU fell to €1.43 billion in January—a 25.25-per cent drop in value.
China remained the top exporter of apparel to the EU (€2.22 billion), but still saw a 6.9-per cent decline YoY in value.
India, Pakistan, Vietnam and Cambodia also remained in negative territory.
Bangladesh’s apparel exports to the bloc fell to €1.43 billion in January—a sharp 25.25-per cent drop in value. It saw a 17.49-per cent YoY decrease in the quantity of goods shipped, coupled with a 9.41 per cent drop in the unit price per kilogram.
China remained the top exporter of apparel to the EU (€2.22 billion), but still saw a 6.9-per cent decline YoY in value. Its unit prices dropped by 8.01 per cent YoY, while its export volume grew a bit by 1.21 per cent YoY.
Turkey faced a severe hit with a 29.12-per cent YoY decrease in apparel export value to the EU in the month, totaling €619.98 million.
Other countries like India, Pakistan, Vietnam and Cambodia remained in negative territory, reflecting a broad-based slowdown in the European fashion retail market.
Fibre2Fashion News Desk (DS)
India’s textile outlook is turning structurally complex.
The EU pact targets ~99.5 per cent trade coverage with phased duty relief, while rupee weakness supports exports.
However, crude volatility, >80 per cent import energy dependence, polyester cost inflation and US market softness (≈28 per cent share) are fragmenting performance, reinforcing a shift towards cotton-led, EU-focused exporters.
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Official data showed that 186 transactions were completed under the zero-tariff policy, covering goods worth nearly ¥1.7 billion (~$236 million), reflecting a 1.46-fold rise compared to the previous year. The policy also resulted in duty exemptions totalling ¥271 million (~$37.6 million).
The figures were released at a press conference held ahead of the 100-day milestone of the policy’s implementation.
Hainan Free Trade Port recorded trade exceeding ¥80 billion (~$11.6 billion) in its first 100 days of special customs operations, up 32.9 per cent YoY.
A total of 186 zero-tariff transactions were completed, covering goods worth ¥1.7 billion (~$236 million), while duties worth ¥271 million (~$37.6 million) were exempted, reflecting strong early momentum.
Launched on December 18, the island-wide special customs operations aim to facilitate smoother entry of overseas goods, expand the scope of zero-tariff items, and create a more business-friendly trade environment.
Positioned as the world’s largest free trade port by area, Hainan FTP is expected to play a strategic role in advancing China’s trade liberalisation and economic openness.
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