Kering Acquires Creed In A ?Natural Extension? of The Group?s Luxury Universe
The all-cash transaction merges Creed?s potential across categories and geographies alongside Kering?s plans for expansion
The post Kering Acquires Creed In A ?Natural Extension” of The Group’s Luxury Universe appeared first on LUXUO.
Image courtesy of Kering
In its first major acquisition, Kering Beauté procures luxury fragrance house Creed from BlackRock Long Term Private Capital Europe and its chairman, Javier Ferrán in a strategic move that aims to see the company?s future growth in the beauty industry. The ambitious takeover was helmed by former Estee Lauder executive Raffaella Cornaggia who was appointed the role of CEO of Kering‘s beauty division in February.
Image courtesy of Kering
READ MORE: Richemont Group Says No to an Acquisition by LVMH
The addition of Creed into the Kering family further reinstates the brand as the ?largest global independent player in the high-end fragrance market? while for Kering, the maneuver lifts the group’s financial profile while simultaneously adding another notch to the company?s beauty portfolio (which already includes a perfume lineup of Alexander McQueen, Balenciaga, Bottega Veneta, Pomellato and Qeelin). The deal also sees Kering leverage Creed?s global distribution network to support the expansion of other Kering Beauté fragrance franchises particularly in Travel Retail and China.
Image courtesy of Kering
READ MORE: Armani Group Achieves Continuous...
The post Kering Acquires Creed In A ?Natural Extension” of The Group’s Luxury Universe appeared first on LUXUO.
Image courtesy of Kering
In its first major acquisition, Kering Beauté procures luxury fragrance house Creed from BlackRock Long Term Private Capital Europe and its chairman, Javier Ferrán in a strategic move that aims to see the company?s future growth in the beauty industry. The ambitious takeover was helmed by former Estee Lauder executive Raffaella Cornaggia who was appointed the role of CEO of Kering‘s beauty division in February.
Image courtesy of Kering
READ MORE: Richemont Group Says No to an Acquisition by LVMH
The addition of Creed into the Kering family further reinstates the brand as the ?largest global independent player in the high-end fragrance market? while for Kering, the maneuver lifts the group’s financial profile while simultaneously adding another notch to the company?s beauty portfolio (which already includes a perfume lineup of Alexander McQueen, Balenciaga, Bottega Veneta, Pomellato and Qeelin). The deal also sees Kering leverage Creed?s global distribution network to support the expansion of other Kering Beauté fragrance franchises particularly in Travel Retail and China.
Image courtesy of Kering
READ MORE: Armani Group Achieves Continuous...
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