Kering and L’Oréal will link up in a partnership. The decision, led by Kering’s new CEO Luca de Meo, is a strategic move to address the luxury group’s substantial debt and allow it to refocus on its core luxury fashion business.
As part of the 4 billion euro deal, L’Oréal will take ownership of the high-end fragrance brand Creed. L’Oréal also secured a long-term agreement—a 50-year exclusive license—to develop beauty and fragrance products under Kering’s major fashion labels, Bottega Veneta and Balenciaga.
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Both Kering and L’Oréal are French companies and are primarily listed on the Euronext Paris stock exchange.
Here are the main listings and ticker codes:
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Kering: Listed on Euronext Paris (main listing), with the ticker symbol KER (formerly PRTP.PA). It is a component of the CAC 40 index
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L’Oréal: Listed on Euronext Paris (main listing), with the ticker symbol OR (or OREP.PA). It is also a component of the CAC 40 index.
Both are very large, blue-chip companies in France’s main stock market index. They also have secondary listings or trade over-the-counter in other markets, such as the US.
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Earlier re France:
This article was written by Eamonn Sheridan at investinglive.com.