L’Oréal has announced a strategic alliance with Kering, acquiring its premium beauty business for €4 billion. This deal includes a 50-year licensing arrangement for iconic brands like Gucci, Bottega Veneta, and Balenciaga, as well as Kering's fragrance line, Creed. The partnership aims to enhance fragrance and cosmetics development and explore wellness opportunities. Kering, known for its luxury fashion houses, is looking to cut debt and refocus on core businesses, while L’Oréal aims to solidify its position as a leader in luxury beauty. Teljes cikk (Euronews.com)