Luxury Fragrance House Creed Is Acquired by Kering Beauté
Bagged for a cool $1.5 Billion USD.
French Luxury House Kering Beauté has sealed the deal on its first acquisition with the popular niche fragrance brand Creed.
The acquisition was made at 100% by Kering, marking an exciting new venture for the company. Creed, which was previously controlled by BlackRock Long Term Private Capital Europe, has a cult following and is known for its unique and luxurious scents. According to WWD, the financial terms of the “all-cash transaction” have not been disclosed, but according to industry sources, the deal went through for an estimated $1.5 billion USD.
Kering Beauté is committed to carrying on the legacy of Creed’s luxurious and sophisticated appeal while exploring new avenues for growth and expansion in various markets and product categories. The focus will be on building upon the firm foundation of the brand’s fragrance line, as well as further developing our offerings in body and home goods to provide consumers with the same exceptional quality and attention to detail that Creed is known for while also introducing new and exciting products that capture the essence of the brand.
Creed will join Kering Beauté’s portfolio alongside Bottega Veneta, Balenciaga and Alexander McQueen.
