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“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.
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.
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