Kering to Sell Creed, License Fragrance Brands to L'Oreal in $4.7 Billion Deal

Core Insights - The deal represents an initial strategy by Kering's new CEO, Luca de Meo, aimed at revitalizing the company's performance in the luxury market [1] Company Summary - Kering is taking proactive steps under new leadership to enhance its position and financial health within the luxury sector [1]