The L'Oréal Group has completed the acquisition of Kering Beauté. The deal also includes the purchase of the heritage perfume house Creed, as well as 50-year licences for the creation, development and distribution of fragrance and beauty products under the Bottega Veneta and Balenciaga brands, the companies announced. For Gucci, the licence rights will come into effect once the licence with Coty expires. Furthermore, L'Oréal and Kering are planning joint ventures for further developments. “Together, we will write the next chapter of these iconic brands over the next 50 years,” said CEO Nicolas Hieronimus. Further information …