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Gucci-Owner Kering Paid $3.8 Bln for French Fragrance Label Creed 

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
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Gucci-Owner Kering Paid $3.8 Bln for French Fragrance Label Creed 

The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)
The logo of French luxury group Kering is seen at Kering headquarters in Paris, France, February 13, 2023. (Reuters)

Gucci-owner Kering paid 3.5 billion euros ($3.83 billion) for acquiring high-end French fragrance label Creed in June, the Financial Times reported on Monday, citing people familiar with the matter.

The French luxury group made the acquisition since flagging intentions earlier in the year to create an in-house cosmetics business.

The all-cash deal to acquire 100% of the fragrance house from funds controlled by BlackRock and by the company's current chairman Javier Ferran is expected to close in the second half this year.

Part of the reason the details of the transaction were not provided earlier was that the companies did not want to broadcast Creed's steep profit margins, according to the FT report.

Kering and Creed did not immediately respond to a Reuters request for comment.

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Fashion

Versace’s Milan Show Aims for ‘Optimism and Joy’ with Colorful Prints

A model wears a creation as part of the Versace Spring Summer 2025 collection, that was presented in Milan, Italy, Friday, Sept. 20, 2024. (AP)
A model wears a creation as part of the Versace Spring Summer 2025 collection, that was presented in Milan, Italy, Friday, Sept. 20, 2024. (AP)
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Versace’s Milan Show Aims for ‘Optimism and Joy’ with Colorful Prints

A model wears a creation as part of the Versace Spring Summer 2025 collection, that was presented in Milan, Italy, Friday, Sept. 20, 2024. (AP)
A model wears a creation as part of the Versace Spring Summer 2025 collection, that was presented in Milan, Italy, Friday, Sept. 20, 2024. (AP)

Presenting a playful and colorful collection of mismatched prints, Italian designer Donatella Versace said she had set out to bring "optimism and joy" to the catwalk with her show at Milan Fashion Week.

Friday evening's Versace show, held at the medieval Castello Sforzesco, kicked off with models wearing clashing prints: zigzag tops and floral skirts, an aesthetic that dominated the spring/summer 2025 line for both womenswear and menswear.

The mixed prints featured on silky dresses and skirts, shirts and knitwear which came in brown, blue, lilac and yellow, with hints of the Versace Medusa head print on some designs.

Outfits nodded to 1990s' styles, with shirts sticking out from under short, unbuttoned cardigans, and there was also a selection of tailored suits and trousers in lemon.

"When there is so much darkness in the world - with this collection, I wanted to bring color, light, optimism and joy - we have never needed it more," Versace, the design head at the Italian fashion house, said in a statement.

Some pieces were cut in shimmering gold - a corset, skirt and strapless dress.

Models also wore colorful tights as well as slinky heels or platforms in bold hues, while menswear models wore suits with trainers or socks and sandals.

Milan Fashion Week runs until Monday.