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Tag: Kering Beaute

Comment – Good Buy Creed?

News in that Kering, the luxury giant that owns Gucci, Balenciaga and Bottega Veneta, has bought the fragrance company favoured by Essex boys, Creed. Reports say that the first major acquisition for ‘Kering Beauté’ has cost the group $2 billion for the niche fragrance house. Kering could be a company on the luxury fragrance rebound after narrowly losing out on the Tom Ford label to Estée Lauder for $2.8 billion last year. When you compare the two brands and prices it feels hard to believe that $2 billion is the correct price for Creed. Tom Ford has a much bigger store network, categories and potential for growth. Creed’s annual revenues of over €250 million ($273 million) for the year ending March 2023 compares meekly with Tom Ford’s revenues estimated to be in the region of $800...

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