Kering SA agreed to sell its beauty division to L’Oreal SA as part of a long-term strategic alliance. The deal is valued at €4 billion ($4.7 billion), according to a statement issued by both companies on Sunday night. The sale is the first strategic move by Chief Executive Luca de Meo, as Kering confronts a slump in Chinese demand and the threat of higher US tariffs. Bloomberg Opinion’s Andrea Felsted breaks down the situation. Her opinions are her own.
www.bloomberg.com
#Kering #Sells #Beauty #Division #LOreal
Kering Sells Its Beauty Division to L’Oreal
