Kering, a global luxury group, completed the acquisition of Creed, a multi-national niche perfume house, from BlackRock, an asset management firm, for €3.5bn. “The acquisition of Creed represents Kering Beauté’s first strategic initiative, and demonstrates our commitment to developing a strong position in the luxury beauty segment. I am thrilled that today our stories and values come together around this spirit of family entrepreneurship and excellence to accelerate our journey in beauty, and I am delighted that the brand is joining Kering’s collection of luxury Houses,” François-Henri Pinault, Kering Chairman and CEO.