Kering Group acquires luxury perfume brand Creed

Kering, owner of brands such as Gucci and Balenciaga, has just announced the acquisition of the perfume company Creed.

In a move it describes as “strategic” for the development of its new beauty division, created at the beginning of February 2023, the international group Kering announces a new acquisition. The new beauty and perfumery division of the French luxury goods group has bought Creed, the Anglo-French haute perfumery house founded in 1760 by James Henry Creed.

For Kering, it is a major deal in a segment in which chairman François-Henri Pinault has made no secret of his ambitions in recent months. “The acquisition of Creed, which is Kering Beauté’s first strategic initiative, demonstrates our ambition to build a strong position for the group in the most exclusive segment of this category,” said the CEO.

As for Creed’s expansion, the French group says it wants to protect its positioning, but also “unlock its full potential, both geographically and in terms of distribution and product categories, in particular by accelerating Creed’s development in China and in travel retail, and by continuing its expansion in women’s fragrances and body and home products”.

The fact that the management team will be retained will undoubtedly reassure the teams at the company, which has laboratories in Fontainebleau, south of the Paris region. “We look forward to working with CEO Sarah Rotheram and her passionate team to continue to build on Creed’s success around the world,” said Raffaella Cornaggia, CEO of Kering Beauté.