Kering Beauté has acquired the iconic luxury fragrance house, Creed. With its rich heritage, unparalleled craftsmanship, and a collection of timeless perfumes, Creed is a prized addition to Kering Beauté’s prestigious portfolio. This strategic acquisition sets the stage for future growth and cements Kering Beauté’s position as a major player in the high-end fragrance segment.
With its legacy of crafting unique scents and utilising exquisite natural ingredients, Creed is a perfect fit for Kering Beauté’s portfolio of renowned luxury brands. This strategic move provides Kering Beauté with the required scale and a platform for future growth in the fast-growing high-end luxury fragrance segment. The acquisition marks a significant milestone and reinforces its commitment to the luxury beauty segment.
“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,” said François-Henri Pinault, Chairman and CEO of Kering. “I am thrilled that today our stories and values come together around this spirit of family entrepreneurship and excellence to accelerate our journey in beauty, and I am delighted that the brand is joining Kering’s collection of luxury Houses.”
Creed, established in 1760, holds the distinction of being the largest global independent player in the high-end fragrance market. The House of Creed is known for its timeless and sophisticated perfumes, including the iconic Aventus. The acquisition will allow Kering Beauté to unlock Creed’s potential across geographies, channels, and categories while preserving its rich heritage and high-end brand image.
Raffaella Cornaggia, CEO of Kering Beauté, expressed excitement about Creed’s unique positioning in the fragrance market. “We see a very compelling rationale and mutual strategic benefits in terms of expertise, network, and geographical footprint. We look forward to working with CEO Sarah Rotheram and her passionate team to continue to drive Creed’s success worldwide.”
The acquisition of Creed is expected to facilitate and amplify Kering Beauté’s development in the fragrance sector. The high-end luxury fragrance segment demonstrates strong market dynamics, fuelling double-digit growth and high profitability. With Creed’s global distribution network, Kering Beauté aims to leverage its position in China and Travel Retail, expand the feminine fragrance portfolio, and explore new categories such as body and home.