Creed Tag

PARIS — Kering Beauté has made its first acquisition: Creed. The French luxury house said Monday that it has purchased the totality of the high-end area of interest fragrance house that’s controlled by BlackRock Long Term Private Capital Europe and the present chairman Javier Ferrán. Financial terms of the all-cash transaction weren't disclosed. Creed will join other perfume brands in Kering Beauté’s stable that include Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin. Creed is the primary area of interest fragrance brand to be owned by Kering, which announced early this yr that it was creating an in-house beauty division. The high-end luxury fragrance segment is a hot commodity today, among the many fastest growing in beauty. It’s been registering double-digit growth, plus high profitability...