PARIS, Feb 13 (Reuters) – L’Oreal (OREP.PA), would welcome gaining access to the Gucci beauty licence earlier than 2028, CEO Nicolas Hieronimus said on Friday, adding that the issue was being discussed between Gucci-owner Kering (PRTP.PA), opens new tab and current licence holder Coty – according to a Reuters report.
The beauty licence for the Gucci brand was the decisive piece in a deal struck last year between the brand’s highly-indebted owner Kering and cosmetics giant L’Oreal, according to sources familiar with the transaction.
“We’ll be happy to get the brand sooner,” Hieronimus told analysts at a conference when asked about the licence.
Gucci is one of the world’s best-known luxury brands but its beauty operations are seen as under-developed by analysts.
For now, the licence is still in the hands of smaller cosmetics firm Coty Inc. until 2028. “It’s something that’s being discussed between Kering and Coty,” Hieronimus said.
Both Kering and Coty declined to comment.
Speaking during an earnings call earlier this month, Markus Strobel, Coty’s new chief executive said: “We are always open for deals that create value for us, that create value for our shareholders.”
Source: Reuters