October 20, 2025 2:44 PM
Kering agrees to sell beauty unit to L’Oreal for $4.7 billion as De Meo trims debt
Gucci owner Kering said on Sunday it has agreed to sell its beauty business to L'Oreal for 4 billion euros ($4.66 billion), in a major shift in strategy by new CEO Luca de Meo as he moves to tackle the luxury group's high debt and refocus on its core...