Kering Beauté Has announced at the beginning of month that, by means of an agreement, has been able to purchase 100% of Believe to bottoms controlled by BlackRock Long Term Private Main Europe and his current President Javier Ferrán. Created in 1760 by James Henry Believe, the House Believe is the greater world-wide operator independent in the market of the scents of high range. Believe it possesses a collection differentiated of perfumes atemporales and sophisticated, between which stands out the iconic Aventus.
In the press release of Kering Beauté, has valued this operation like a big step for Kering Beauté. It fits to perfection with his wallet of marks of luxury of renown and provides immediately to Kering Beauté the necessary scale, an exceptional financial profile, as well as a platform, supporting the future development of other franchises of scents of Kering Beauté, taking advantage of in particular the network of world-wide distribution of Believe.
Kering Beauté Pursues the aim develop the potential of Believe in different geographies, channels and categories, especially through the acceleration of his development in China and in Travel Retail, and a greater expansion of the wallet of feminine scents and of the categories of body and home. As it has announced through his own communiqué, "lto category of beauty is a natural extension of the universe of the luxury of Kering, and the Group trusts that his expansion in this strategic segment will create a durable value for the Group and his Houses."
Jean-François Palus, General Director of the Group Kering, declared: "Believe it is recognised like one of the few marks of scents of luxury leaders in the world, synonymous of exclusivity and creativity. We trust that this historical acquisition facilitate and amplify our development in scents. It treats of a milestone in the development of Kering Beauté, since we believe more than ever in the strong potential of our marks in beauty."
The closing of the operation, totally in cash, is foreseen for the second semester of 2023, when it have the permission by part of the organisms regulatorios responsible.