The binding agreement encompasses the acquisition of the House of Creed by L’Oréal and gives the French beauty giant the rights to enter into a 50-year exclusive license for the creation, development and distribution of fragrance and beauty products for Gucci, starting after the expiration in 2028 of Kering’s current license with Coty Inc. for that business.

The partnership will also include a 50-year exclusive license for Bottega Veneta and Balenciaga, which will start at the close of the transaction, which is expected to take place in the first half of 2026.

— Read more in Analysts Laud L’Oréal-Kering Beauty Deal at Women's Wear Daily via Yahoo.