This week, Kering agreed to sell off its beauty unit to L’Oréal for $4.6 billion in a transaction that’s seismic for both groups. But its ripple effects will be felt further afield, too.
The private equity firm is in early talks to unload the French fragrance brand at a possible $2 billion valuation, according to a report in the Financial Times.
The companies announced on Sunday that L’Oréal will acquire Kering’s beauty brands and licenses for its fashion house names, including Gucci.
A deal would be an early move by new Kering CEO Luca de Meo to revive the luxury giant’s fortunes.
The skincare label has been sold to Rare Beauty Brands in a deal set to close this year, Unilever announced on Tuesday.
As shoppers and investors alike tighten their purse strings, a renewed focus on proven, lasting brands and categories is thinning the herd.
The European Commission said the deal poses no competition concerns.
Giorgio Armani’s will stipulated that 15 percent of the company he founded must be sold by early 2027, but putting a price tag on the group is an inexact science.
The German e-tailer’s net sales grew 12 percent in the final quarter of its fiscal 2025, but its newly acquired Net-a-Porter and Mr Porter saw continued declines during the same period.
Rami Atallah, chief executive of the embattled e-tailer, told employees on Sep. 17 that the company is set to be sold in early October, and announced a new round of layoffs.
The French beauty giant was one of three preferred bidders cited in Armani’s will for an initial stake sale of 15 percent in Giorgio Armani, but would only pursue its beauty business, according to a person familiar with the matter.
The retailer is seeking an investor to take on 49 percent of the New York luxury retailer, according to the Wall Street Journal. Proceeds will go towards easing a heavy debt load less than a year after acquiring Neiman Marcus.
The Chinese beauty conglomerate’s revenue grew 29.8 percent in the latest quarter, but its profit decreased by double digits due to increased promotional expenses as it expands overseas.
Shares jumped after the group raised its annual revenue and profit forecasts and said it expected sales to return to growth.
The German sportswear business is attempting to reboot its brand appeal to better compete with larger rivals Adidas and Nike.
The Tata Group-owned business beat expectations, shoring up confidence in its fashion business after a period of sluggish performance.
Chasity Monroe has been appointed as the label’s chief executive as it undergoes a wider brand refresh.
The Korean firm and Medicube owner reported third quarter revenue growth of over 100 percent, mostly attributed to the expansion of its skincare range into new markets, channels and product categories.
Celebrity-makeup artist Ash K. Holm will join the “smart” mirror brand for a year-long partnership focusing on guidance and education.
Revenue growth outpaced the previous quarter in the Korean conglomerate’s domestic market, but slowed internationally.