A ​year early

Coty is exiting Gucci Beauty a year earlier than planned, while L’Oréal is accelerating one of the beauty industry's biggest luxury wins, marking a strategic reshuffling that could have ripple effects across prestige fragrance, beauty licensing and competitive investment. Under a newly announced agreement, Coty will transition the Gucci Beauty license back to Kering in exchange for approximately $400 million, with the company continuing to operate the business through at least June 30, 2027. — Read more in Gucci Beauty Changes Hands Early: Coty Cashes Out as L’Oréal Secures a 50-Year Luxury Prize at Global Cosmetic Industry. Coty said on Tuesday it had agreed to return the Gucci Beauty license to Kering for about $400 million... The New York-based company will use most of the proceeds to pay down debt, with some capital earmarked for investment in key brands including BOSS and Marc Jacobs, a person familiar with the ​matter said. — Read more in Coty exits Gucci license early to raise cash for turnaround at Reuters. Coty will receive $400 million for the early termination of the licence agreement, which was set to expire in 2028, and to provide it with funds to continue running the business until at least June 30, 2027. The possibility of an early termination had been floated since October 2025 when Kering sold its beauty business, including the licences for its fashion brands like Bottega Veneta and Balenciaga, as well as beauty brands like perfumer Creed to L’Oréal for $4.6