Kering’s Strategic Pivot: How a €4 Billion Beauty Exit Fuels Fashion-First Revival
Luxury Giant’s Radical Restructuring In a bold strategic move that signals a fundamental shift in direction, Kering has announced the…
Tag: Kering
Kering Divests Beauty Division to L’Oreal in €4 Billion Strategic Debt Reduction Move
Gucci owner Kering has reportedly reached a €4 billion agreement to transfer its beauty operations to cosmetics giant L’Oreal. The deal marks new CEO Luca de Meo’s first significant strategic move to reduce the luxury group’s substantial debt burden while refocusing on core fashion labels.
Major Beauty Business Transfer
French luxury conglomerate Kering has agreed to sell its beauty division to cosmetics leader L’Oreal for approximately €4 billion ($4.66 billion), according to reports confirmed Sunday. The transaction represents a significant strategic pivot under newly appointed CEO Luca de Meo as he moves to address the company’s substantial debt load and refocus on core fashion operations.