Gucci’s Parent Company Just Bought Creed, One of the Biggest Names in Fragrance

Justin Ray
·2 min read


Well this smells like a great deal. French luxury conglomerate Kering announced on Monday that it has acquired the high-end fragrance brand Creed, marking its most significant step forward into the luxury beauty sector.


Kering—whose portfolio includes brands such as Gucci, Brioni, and Yves Saint Laurent—didn’t disclose the financial terms of the all-cash deal in its statement, but it did reveal that it was a complete acquisition of Creed from funds controlled by BlackRock Long Term Private Capital Europe and chairman Javier Ferrán. The company also said the transaction is expected to finalize in the second half of this year, and it is subject to clearance by authorities.


Kering described the deal as a major step for the company, calling Creed a perfect fit with its existing portfolio of luxury brands. The company plans on maintaining Creed’s high-end reputation and heritage while unlocking its potential in markets such as China. It specifically named Creed’s global distribution network as an avenue for future development of other future Kering Beauté fragrance franchises.


The deal also makes sense when considering that the fragrance segment of the high-end luxury market is among the fastest growing in beauty.

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“The acquisition of Creed represents Kering Beauté’s first strategic initiative, and demonstrates our commitment to developing a strong position in the luxury beauty segment,” Kering’s chairman and CEO François-Henri Pinault said in the statement. “I am thrilled that today our stories and values come together around this spirit of family entrepreneurship and excellence to accelerate our journey in beauty, and I am delighted that the brand is joining Kering’s collection of luxury Houses.”


During the full year that ended March 31, Creed generated a revenue of more than €250 million (about $273 million), The Wall Street Journal reported. Founded in 1760, the company is known for its best-selling Aventus fragrance and has amassed a network of about 1,400 points of sale, including 36 branded stores. It has become the second-largest brand in the high-end fragrance market in terms of sales behind Jo Malone, a British brand owned by Estée Lauder.