Details of the deal were not provided in part because the two companies did not want to advertise Creed’s high profitability, according to people familiar with the matter.
Today (July 10), the Financial Times reported that four people familiar with the matter said that Gucci parent company Kering Group acquired Creed perfume last month for 3.5 billion euros ($3.8 billion).
The exact amount of the acquisition was not disclosed when Kering announced the purchase of Creed perfumes last month. According to two people familiar with the matter, details of the deal were not provided in part because the two companies did not want to advertise Creed’s high profit margins.
It is reported that Creed perfumes was sold by the founding family to BlackRock and Javier Ferrán in early 2020, and this time, it is from the two that Kering Group bought 100% of Creed, and the deal is expected to be completed later this year. It is understood that Creed has more than 1,400 points of sale in the world and the revenue in last year was more than 250 million euros ($273.8 million). It is currently the largest independent high-end perfume brand.
CHAILEEDO incomplete statistics found that so far in 2020, Kering Group’s acquisition of Creed can be said to have reached a new high in the industry.
In June 2020, Puig acquired British makeup brand Charlotte Tilbury, valuing the brand at $1 billion.
On January 21, 2021, Ashland Global Holdings acquired the personal care business of Schülke & Mayr GmbH for 263 million euros ($288 million). On June 16, Unilever announced the acquisition of skin care brand Paula’s Choice, valuing the company at $2 billion. On December 21, Beiersdorf announced the acquisition of luxury beauty brand Chantecaille, valuing the company at between $590 million and $690 million.
On November 11, 2022, Japan’s Orix acquired cosmetics and health food company DHC, with a purchase price estimated at about 300 billion yen ($2.1 billion). On November 15 of the same year, Estee Lauder officially announced the acquisition of Tom Ford, valued at $2.8 billion. At the end of May, Puig Group bought high-end perfume brand Byredo, valuing the brand at 1 billion euros ($1.09 billion).
And on May 17 this year, “the largest acquisition in the history of L’Oreal” has gained a lot of attention in the industry. L’Oréal Group bought the Aesop brand at a cost of $2.5 billion.
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