In line a few weeks ago to buy Tom Ford, the brand created by the former star artistic director of Gucci, Kering gave up in the home stretch, finding the price too high.
And thus left Estée Lauder, who operated under license the brand Tom Ford for perfumes, to win the bet, for 2.3 billion dollars.
“This would have allowed Kering to accelerate its return to perfumes
, confides someone familiar with the matter.
But the group does not need it to make its comeback.
The luxury giant, notably owner of Gucci, Saint Laurent, Bottega Veneta and Balenciaga, is indeed ready for a major new strategic shift.
After its diversification into luxury, which began in 1999 with the simultaneous acquisition of Gucci, Yves Saint Laurent and Yves Saint Laurent Beauté, the group, which was then called PPR, sought to beef up its perfume branch.
But the steps taken, with the help of lawyers, to recover the Gucci perfume license, held by Procter & Gamble…
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