Luxury fragrance brand Creed, well-known for its best selling perfume Aventus, has been acquired by Kering Beauté, with the perfumer’s accounts being consolidated into Kering’s as of 1st November 2023. Kering Beauté had signed an agreement to acquire 100% of Creed from funds controlled by BlackRock Long Term Private Capital Europe and current Chairman Javier Ferrán in June 2023. Kering are the parent group of brands including Gucci, Bottega Veneta, Saint Laurent, and Alexander McQueen.
Calling the acquisition a strategic one, Kering Beauté will be able to leverage Creed’s global distribution network for its other fragrance franchises while further developing the historic perfume brand’s feminine fragance portfolio, body and home categories. The high-end luxury fragrance segment has seen double-digit growth and high profitability, making this acquisition all the more important.
Established in 1760 by James Henry Creed as a tailoring house that served the royal families of Europe, Creed is now led by Olivier Creed and his son Erwin seven generations later. Using materials sourced from all over the world, Creed manufactures many of its own essences using a traditional, labour intensive technique that includes hand maceration of raw ingredients.