Kering Beauté has acquired the Creed fragrance brand from funds controlled by BlackRock Long Term Private Capital Europe and current chairman Javier Ferrán.
Established in 1760 by James Henry Creed, the House of Creed is the largest global independent player in the high-end fragrance market.
While preserving Creed’s heritage and high-end brand image, Kering Beauté will aim to unlock the brand’s potential across different geographies, channels and categories. This will include accelerating the development of Creed in China and travel retail, as well as expanding its feminine fragrance portfolio, body and home categories.
The all-cash transaction is expected to close in the second half of 2023 subject to clearance by the relevant competition authorities.
Creed has a network of 36 branded stores and distribution through around 1,400 doors around the world. In the year to 31 March, the brand generated revenue of more than €250 million.
