Creed has launched Wild Vetiver, a new fragrance…
Markets remained cautious
The Paris-based companies on Monday announced the sale of niche fragrance house Creed to L’Oréal, as well as a 50-year exclusive license to develop beauty lines for Bottega Veneta and Balenciaga under the beauty giant’s umbrella. The agreement also grants L’Oréal an option for Gucci Beauty—currently licensed to Coty until at least 2028, and a 50/50 joint venture in the wellness and longevity categories. [...]
Still, markets remained cautious: Kering’s shares rose 4% on Monday but ended down 3.9% on Friday following a 10% drop in quarterly sales. L’Oréal slipped about 1% on the day of the announcement and ended the week down 0.2% after logging sales growth that came below analysts' expectations—a sign that investors expect results from the transaction only over the medium term.
— Read more in How Much More Can L’Oréal Grow After €4 Billion Deal with Kering? at BeautyMatter.
The binding agreement
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.
Creed Oud Zarian ~ new fragrance
I’ve been wearing it for 20, 25 years
I’m just heartbroken because they stopped making it. I’m not a big perfume person, but I’ve been wearing it for 20, 25 years, and all of a sudden they’re putting it in the vault. And there’s really not much to say except that I just loved it.
— Kyra Sedgwick on Fleur de Thé Rose Bulgare by Creed. Read more in Kyra Sedgwick Wants More Middle-Aged Sex Onscreen at The New York Times. Hat tip to AnnE, who has been trying to manage her internet time but sends her regards to all!