Creed, a high-end luxury heritage fragrance firm with a strong pedigree known for creating distinctive aromas by utilising fine natural ingredients, is acquired by Kering Beauté.
The largest independent participant in the rapidly expanding market for high-end, luxurious fragrances. a significant step for Kering Beauté, establishing a sizable foundation for future expansion in a strategically important market.
According to a contract signed by Kering Beauté and current Chairman Javier Ferrán, funds managed by BlackRock Long Term Private Capital Europe would purchase all of Creed.
The House of Creed, which James Henry Creed founded in 1760, is the biggest independent global player in the high-end fragrance industry. The legendary Aventus is one among the many classic and elegant scents that Creed has to offer.
The purchase of Creed is a significant development for Kering Beauté. It provides Kering Beauté with the necessary scale, an excellent financial profile, and a platform right once. By utilising Creed’s extensive global distribution network in particular, it also supports the future growth of other Kering Beauté fragrance franchises. It is a perfect fit with its portfolio of well-known luxury brands.
Creed’s potential will be further unlocked across geographies, channels, and categories by Kering Beauté while maintaining the brand’s rich heritage and premium image. This will be done in part by increasing Creed’s expansion into China and travel retail, as well as the body, home, and feminine fragrance categories.
The market dynamics for high-end luxury fragrances are favourable, driving double-digit growth, high profitability, and large revenue recurrence that promotes cycle-resistant long-term performance. The luxury universe of Kering naturally extends into the beauty market, and the Group is certain that its growth in this key area will provide long-term value for the Group and its Houses.
Read More: https://ciolook.com/