Processing timeline
4
days
Filed
19 Aug 2026
Decision Due
30 Sept 2026
Est decision date: 21 Sept 2026. Based on 74 decided Professional & Business Services notifications.
Acquirer(s)
L'Oréal S.A. 632 012 100, Lake Beauté S.A.S. 908 463 425
Target(s) or Vendor(s)
Guccio Gucci S.p.A 03031300159, Gucci America Inc. 13-1692020
Other parties
None listed
L'Oréal SA's subsidiary, Lake Beauté, proposes a 50-year worldwide exclusive licence from Kering SA's subsidiaries, Guccio Gucci S.p.A. and Gucci America Inc., for the creation, development, manufacture and distribution of Gucci brand fragrance and beauty products. This impacts the premium fragrance and cosmetics market.
Lake Beauté (formerly known as Kering Beauté), a French wholly-owned subsidiary of L'Oréal SA (L'Oréal), proposes to enter into a 50-year worldwide exclusive licence (Proposed Licence or Gucci Beauty Licence) from Guccio Gucci S.p.A. (Gucci Italy) and Gucci America Inc. (Gucci America), both wholly-owned subsidiaries of Kering SA (Kering), for the creation, development, manufacture and distribution of fragrance and beauty products under the Gucci brand. L'Oréal is the French-based parent and ultimate holding company of the L’Oréal Group, which is active worldwide in the research, development, manufacturing, marketing, distribution and sale of beauty and personal care products. Kering is the French-based parent and holding company of the Kering Group, a global luxury group which owns and operates a portfolio of luxury brands, including Gucci. The Gucci beauty and fragrance business is currently operated by Coty Inc. (Coty) under a long-term worldwide exclusive licence, which is now scheduled to terminate on 30 June 2027 (one year ahead of the original licence term). L'Oréal and the Gucci beauty and fragrance business (as currently operated by Coty) both supply premium fragrances and, to a lesser extent, premium colour cosmetics in Australia.
The ACCC has prepared a questionnaire on the Acquisition. Submission or information in response to the questionnaire should be provided by 26 August 2026 via email to mergers@accc.gov.au with the title Submission re: L'Oréal – Gucci Beauty Licence .