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L’Oréal and Kering announced a strategic alliance on Sunday that will see the French cosmetics giant acquire Kering’s premium beauty business for €4 billion.
The deal means that L'Oréal will enter into 50-year licensing arrangements for some of Kering’s most iconic brands, specifically Gucci, Bottega Veneta, and Balenciaga.
L'Oréal will also take over Kering's fragrance line Creed.
“Joining forces with the global leader in
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