Kering Beauté has announced that it has signed an agreement to acquire 100 per cent of Creed from funds controlled by BlackRock Long Term Private Capital Europe and current Chairman Javier Ferrán.
Established in 1760 by James Henry Creed, the House of Creed is the largest global independent player in the high-end fragrance market. Creed possesses a distinct collection of timeless and sophisticated perfumes, including the iconic Aventus.
The acquisition of Creed is a major step for Kering Beauté. A perfect fit with its portfolio of renowned luxury brands, it immediately provides Kering Beauté with the required scale, an outstanding financial profile, as well as a platform, supporting the future development of other Kering Beauté fragrance franchises, by leveraging in particular Creed’s global distribution network.
While preserving Creed’s rich heritage and high-end brand image, Kering Beauté will further unlock Creed’s potential across geographies, channels, and categories, notably through the acceleration of its development in China and in Travel Retail and further expansion of the feminine fragrance portfolio, body and home categories.
