@2022 - All Right Reserved. Designed and Developed by PenciDesign

Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Gucci-owner Kering paid $3.8 billion for French fragrance label Creed – FT

by Staff GBAF Publications Ltd
0 comment

Gucci-owner Kering paid $3.8 billion for French fragrance label Creed – FT

(Reuters) -Gucci-owner Kering paid 3.5 billion euros ($3.83 billion) for acquiring high-end French fragrance label Creed in June, the Financial Times reported on Monday, citing people familiar with the matter.

The French luxury group made the acquisition since flagging intentions earlier in the year to create an in-house cosmetics business.

The all-cash deal to acquire 100% of the fragrance house from funds controlled by BlackRock and by the company’s current chairman Javier Ferran is expected to close in the second half this year.

Part of the reason the details of the transaction were not provided earlier was that the companies did not want to broadcast Creed’s steep profit margins, according to the FT report.

Kering and Creed did not immediately respond to a Reuters request for comment.

($1 = 0.9131 euros)

(Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi Aich)

 

Recent Post