The €4 Billion Kering Beauty Division Sale to L'Oréal Signals Bold Transformation at Kering

Kering has entered a new chapter under its first external CEO, Luca de Meo, the automotive turnaround specialist from Renault. Just weeks into his tenure, de Meo made his first major strategic move: selling Kering's entire Beauty Division to L'Oréal for €4 billion. This bold decision reverses a key strategy from predecessor François-Henri Pinault, who had acquired Creed perfumes for €3.5 billion in 2023 to diversify beyond Gucci. With Kering's debt at €9.5 billion and its stock down 78% from peak, the beauty sale provides crucial capital while allowing the luxury group to refocus on its core fashion and leather goods business.

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