PARIS: French luxury conglomerate Kering has agreed to sell its beauty division to L’Oréal for €4 billion ($4.66 billion), marking a pivotal strategic shift under newly appointed CEO Luca de Meo. The deal includes the sale of high-end fragrance brand Creed and a 50-year exclusive licensing agreement for L’Oréal to develop beauty products under Kering’s…
LONDON: Gemfields Group Ltd. said Monday it has signed an agreement to sell its entire interest in Fabergé Limited, the iconic luxury brand, to SMG Capital LLC for $50 million. Under the terms of the deal, $45 million will be paid to Gemfields upon completion, expected on Aug. 28, 2025. The remaining $5 million will…
LONDON: Oakley Capital Investments Limited announced Tuesday that its Iconic BrandCo platform is expanding with investments in three premium lifestyle brands: Smythson of Bond Street, Fornasetti and Fabbrica Pelletterie Milano (FPM). The move strengthens Oakley’s portfolio of luxury heritage brands under Iconic BrandCo, a vehicle established in 2020 under Oakley Capital Fund III. Oakley Capital Investments’…