开云40亿欧元将美妆卖给欧莱雅，还有古驰的50年授权

Core Viewpoint - The new CEO of Kering Group has initiated a significant strategic shift by selling Kering Beauté to L'Oréal for €4 billion, marking a move towards focusing on core luxury goods while alleviating financial pressures [1][9]. Group 1: Transaction Details - Kering Group announced the sale of Kering Beauté to L'Oréal for €4 billion, with the transaction expected to complete in the first half of 2026 [1][3]. - The deal includes the acquisition of the high-end perfume brand Creed and a 50-year exclusive licensing agreement for producing beauty products for Kering's brands like Gucci and Balenciaga [3][10]. - Kering Beauté accounted for only 2% of Kering's total revenue, highlighting its limited impact on the overall business [4][9]. Group 2: Strategic Implications - The sale reflects a broader trend in the luxury sector, where brands are shifting from a "brand-led" model to a "platform-led" approach, focusing on creativity and brand value while outsourcing operations to specialized groups [3][9]. - Kering's decision to divest non-core businesses is seen as a rational adjustment to enhance financial stability and focus on its primary luxury goods segment [9][10]. - The cash influx from the sale will help Kering address its growing debt, which reached €9.5 billion by mid-2023 [8][9]. Group 3: Market Context - The luxury goods sector has faced challenges, with Kering experiencing a 16% revenue decline to €7.587 billion and a 46% drop in net profit to €474 million in the first half of 2025 [8][9]. - L'Oréal's acquisition aligns with its strategy to strengthen its position in the high-end beauty market, where it has been expanding its portfolio of luxury brands [10][13]. - The global perfume market is projected to grow, with estimates suggesting it will exceed $400 billion by 2025, indicating potential for future growth in this segment [13].