Kering sells beauty division to L’Oreal and says the companies will collaborate on wellness products

Under the agreement, Clichy, France-based L’Oreal will acquire the House of Creed high-end fragrance company as well as licenses to create beauty and fragrance products for Kering brands like Gucci, Bottega Veneta and Balenciaga. The companies said they will establish a strategic committee to ensur...

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