Kering Beauté strengthens its luxury footprint with the acquisition of the Creed perfume house
Luxury goods giant Kering recently announced the acquisition of the prestigious Creed perfume house.
This strategic transaction is part of Kering Beauté’s drive to build on its position in the beauty industry and accelerate its expansion, particularly in the Chinese market.
With this acquisition, Kering Beauté strengthens its portfolio of renowned brands and consolidates its presence in women’s fragrances and body and home care products.
In an ever-changing market where exclusivity and craftsmanship have become essential criteria for consumers, Kering Beauté is taking another step towards excellence by adding Creed to its impressive portfolio of luxury brands.
Founded in 1760 by James Henry Creed, Creed is renowned for its distinctive and timeless fragrances, created with passion and craftsmanship in its workshops in Fontainebleau.
This acquisition, the amount of which has not been denied, enables Kering Beauté to extend its presence in the high fragrance sector, a fast-growing market.
Creed fragrances are sold in around 1,400 points of sale worldwide, and the company is forecasting sales of €250 million in 2023.
These figures testify to the attractiveness and profitability of this independent house, which is regarded as a nugget in the field of fine perfumery.
By acquiring Creed, Kering Beauté is strengthening its Beauty division and renewing its commitment to innovation and creativity.
This strategic acquisition will enable Kering to leverage Creed’s expertise and know-how to develop its world-renowned brands, such as Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin, in the cosmetics sector.
One of Kering Beauté’s key objectives will be to expand Creed’s presence in China and in travel retail (airport and train station boutiques, etc.).
By capitalising on the growing demand for luxury products in these fast-growing markets, Kering Beauté is counting on Creed’s presence and offering unique olfactory experiences to consumers around the world.
Creed represents a perfect marriage between tradition and modernity.
Its exquisite fragrances, including the famous Aventus, which has become an undisputed leader in luxury fragrances for men, have won over perfume lovers in the United States, the United Kingdom and around the world.
Through this acquisition, Kering Beauté intends to capitalise on this reputation and perpetuate Creed’s heritage, while providing it with a platform for long-term growth.
Photography credits: CREED
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