Kering acquires Creed as it seeks to drive beauty growth

It’s an all-cash agreement that’s expected to complete in the second half of the year “subject to clearance by the relevant competition authorities”.

The house, which was established in London as far back as 1760 by James Henry Creed, is now “the largest global independent player in the high-end fragrance market,” Kering said, and “possesses a distinct collection of timeless and sophisticated perfumes”.

And it will form a key part of the French conglomerate’s aim to grow in the buoyant beauty market.