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03/2026

KERING BEAUTÉ acquired by L'ORÉAL

FRANCE Consumer Products / Personal & Household / Hygiene & Beauty Brands REV 250M - 500M EUR

Context

L’Oréal has finalized the cross-border acquisition of Kering Beauté from the luxury group Kering, executing an alliance initiated in October 2025. The transaction encompasses the outright acquisition of Maison Creed, a historic luxury fragrance house. Concurrently, the deal architecture secures exclusive 50-year commercial operating licenses for the creation, development, and global distribution of beauty and fragrance portfolios for both the Bottega Veneta and Balenciaga brands. The agreement also establishes structured forward-looking rights for a 50-year exclusive beauty licence covering the flagship Gucci brand, which will trigger automatically following the expiration of its legacy contract with Coty. Parallel to these brand integrations, L’Oréal and Kering are establishing a dedicated joint venture to co-develop new opportunities in the longevity and wellness sectors.

KERING BEAUTÉ, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Kering Beauté operates as the specialized luxury beauty and fragrance division of the French global luxury group Kering. Established to fully internalize and structurally develop the cosmetics and perfume categories for the group's iconic fashion houses, the company’s business model centers on creating, developing, and commercially deploying high-end olfactory and cosmetic portfolios. Its operational architecture focuses on preserving the distinct creative identities and extreme prestige positioning of its internal brand ecosystem, which includes global luxury powerhouses such as Bottega Veneta, Balenciaga, and Alexander McQueen.

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Multiples

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EV / EBITDA

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Historical Financials (EUR)

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2025
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2024
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REFERENCES

Revenue range: 250M - 500M EUR

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: l'oréal