When was Creed launched? Kering Beauté acquires high-end heritage fragrance house

On June 26, 2023, Kering Beauté announced that they will be taking over Creed, signing a total acquisition contract with the high-end fragrance house. The all-cash transaction will be made by the end of this year, using the funds controlled by BlackRock Long Term Private Capital Europe.

Kering already has an extensive portfolio, featuring well-renowned luxury brands like Gucci, Saint Laurent, Balenciaga, and Alexander McQueen. With the acquisition of the heritage fragrance house, the conglomerate will be expanding its beauty portfolio, building up its newest division Kering Beauté.

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Creed was established in 1760 by James Henry Creed

The fragrance house was established in 1760 by James Henry Creed, with 2023 marking its 263rd year in the market. The company is not just any luxury perfumery, as it has ties with the Royal Household. This relationship began when the brand first delivered a pair of scented leather gloves to King George III. The company was then appointed as the official fragrance supplier for the royals by Queen Victoria.

They have ties with the French royalty as well, as they established their second headquarter in Paris under the patronage of Napolean III and Empress Eugénie. The heritage brand was well-known amongst the royals, especially for its bespoke fragrances that were rare and limited in number.

The company is a multi-generational beauty brand, being passed down from father to son for seven generations. While the company was established by James, it is currently being managed by Olivier Creed.

The perfume brand is well-known for sourcing the best ingredients from around the world. Bulgarian roses, Italian jasmines, Indian tuberoses, and Bourbon vanilla are a few of the ingredients that the brand uses. Olivier is known to travel extensively to research the scents the world has to offer, with many of the company's fragrances taking direct inspiration from a scent Olivier picked on one of his travels.

Quality is at the core of every perfume created in the laboratories of Creed, with all the ingredients carefully measured and weighed out. The brand is best known for its hands-on process, as all the ingredients are mixed and liquified by hand. The artisanal touch is what makes the fragrances so unique and sought after by the biggest names in the world.

From TWICE's Jeongyeon to EXO's Chanyeol, the heritage brand's fragrances have a star-studded fan following and some of the most famous stars in the entertainment industry enjoy the luxury perfumes.

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Kering Beauté plans to further the perfume brand's business to cover more countries and categories

The acquisition aims to help the brand expand its reach and earn higher profits.

"Creed has a unique positioning in the fragrance market. We see a very compelling rationale and mutual strategic benefits in terms of expertise, network, and geographical footprint. We look forward to working with CEO Sarah Rotheram and her passionate team to continue to drive Creed’s success worldwide," the CEO of Kering Beauté, Raffaella Cornaggia, said.

Kering Beauté plans to extend the heritage perfume brand's reach across more countries and categories. They plan to start with an expansion to China while working on what the brand has to offer in the feminine fragrances category. Kering Beauté also plans to expand the company's body and home categories, which will include scented candles amongst other things.