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Kering SA Acquires Creed Transcript
Thank you for joining us on short notice to discuss the acquisition of Creed we announced earlier today. I am Jean-Francois Palus, Group Managing Director, and I will be conducting this presentation and Q&A session together with Raffaella Cornaggia, CEO of Kering Beaute; and Jean-Marc Duplaix, Group's CFO.
Let's start on Slide 4 with the main highlights of the acquisition of Creed that we are excited to be able to present to you. First, Creed is an iconic heritage fragrance house with strong positions in high-end luxury, the fastest-growing segment of the fragrance market.
Second, Creed is a unique asset. The house is the largest independent global player in this segment. For full year 2023 ended March 31, it had revenue of more than EUR 250 million, and the house consistently delivers very high EBITDA margins.
Third, this acquisition represents a decisive step for Kering Beaute, the entity we recently created, which is headed by Raffaella. Beauty is a natural extension of our houses universe. It is
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