Kering Sells Beauty Arm to L’Oréal in $4.6 Billion Deal

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Debt-laden French luxury group Kering is selling its beauty products business, including its leading perfume brand Creed, to cosmetics giant L’Oréal in a deal worth $4.6 billion, the companies said Sunday. The deal also gives L’Oréal 50-year exclusive licenses to develop and distribute products under Kering’s fashion labels Gucci, Bottega ...