Gucci-owner Kering paid 3.5 billion euros ($3.83 billion) for acquiring high-end French fragrance label Creed in June, the Financial Times reported on Monday, citing people familiar with the matter.
The French luxury group made the acquisition since flagging intentions earlier in the year to create an in-house cosmetics business.
The all-cash deal to acquire 100% of the fragrance house from funds controlled by BlackRock and by the company's current chairman Javier Ferran is expected toPart of the reason the details of the transaction were not provided earlier was that the companies did not want to broadcast Creed's steep profit margins, according to the FT report.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Psst: Nordstrom's Luxury Perfumes Are Going on Sale SoonTom Ford, Gucci, Byredo — yep, they're all on sale.
Leer más »
Plane carrying at least 6 people crashes in French Valley area of Riverside County, FAA saysA small plane carrying at least six people crashed in a field Saturday in the French Valley area of Riverside County.
Leer más »
French military commander recalls chaos of recent riotsHenri, 48, of the Gendarmerie Air Forces, recounted to The Post handling the looting and violence sparked in France by a fatal police shooting.
Leer más »
6 killed in fiery crash of Cessna aircraft in French ValleyThe crash was reported at 4:16 a.m. near the French Valley airport. The plane, engulfed in flames, landed in a field.
Leer más »