Kering Beauté Completes Acquisition of Luxury Fragrance House Creed

Kering Beauté announced on Tuesday, October 17, 2023, that it has completed the acquisition of Creed, a high-end luxury fragrance house. The transaction, initially agreed upon in June, received the necessary clearance from antitrust authorities before its finalization.

Creed's financial results will be incorporated into Kering's consolidated accounts beginning November 1, 2023. This move signifies Kering's strategic expansion within the beauty sector, particularly in the high-growth luxury fragrance market. Creed, known for its established heritage and iconic scents, is expected to enhance Kering Beauté's portfolio.

The acquisition aligns with Kering's broader strategy of managing renowned Houses in Fashion, Leather Goods, and Jewelry, emphasizing creativity and sustainable development. By integrating Creed, Kering aims to leverage the brand's expertise and market presence to drive further growth and innovation in luxury fragrances.

Kering, a global luxury group, manages a portfolio of prominent brands and seeks to empower their creative expression while crafting sustainable and responsible luxury. The addition of Creed is expected to contribute to this mission.