Darrois Villey Maillot Brochier advises Kering in the context of its strategic alliance with L’Oréal in Beauty and Wellness

Paris, 28 October 2025,

Darrois Villey Maillot Brochier has advised its client Kering as part of the entry with L’Oréal into a long-term strategic partnership in the luxury beauty and wellness sector.

This binding agreement encompasses the acquisition of the House of Creed by L’Oréal, the beauty and fragrance licenses of iconic Houses of Kering and an exclusive venture to explore business opportunities in the field of wellness and longevity.

Under the terms of this agreement, Kering has the right to sell Kering Beauté including the House of Creed to L’Oréal. Furthermore, the partnership includes the rights to enter into a 50-year exclusive license for the creation, development, and distribution of fragrance and beauty products for Gucci, commencing after expiration of the current license with Coty, and respecting the Kering group’s obligations as per the existing license agreement.

Kering will also grant L’Oréal 50-year exclusive licenses for the creation, development, and distribution of fragrance and beauty products for Bottega Veneta and Balenciaga, starting upon closing of the announced transaction.

The agreement, including the sale of Creed and the establishment of these 50-year licenses on these iconic Houses of Kering, is valued at €4 billion, payable in cash at closing, expected in the first half of 2026. L’Oréal will also pay royalties to Kering for the use of its licensed brands.

The Darrois Villey Maillot Brochier team comprised Bertrand Cardi, Christophe Vinsonneau, Forrest Alogna, Laurent Gautier and Cécile de Narp (partners), Chaïmaa Hainoune and Michinari Mastumoto (associates, on corporate matters, Vincent Agulhon (partner) on tax matters and Guillaume Aubron (partner), Hugo Flottes and Mathieu Duvacher on competition law aspects.

Darrois Villey Maillot Brochier served as lead counsel on the transaction, alongside Macfarlanes, which advised Kering on English law matters, Fromont Briens on employment law matters, and Arsène Taxand on tax matters.