Yes, Creed, a renowned luxury fragrance company, has been taken over. In January 2021, it was announced that Creed was getting acquired by BlackRock Long Term Private Capital and Javier Ferran. Javier Ferran, a former executive from the spirit industry, would act as the chairman while the Creed family continues to hold some stake in the business. This new alliance was aimed at leveraging the brand’s rich heritage for a global expansion, while maintaining its high-quality product and exceptional customer service.
Does BlackRock Own Creed?
In recent years, there’s been much speculation surrounding the ownership of Creed, the renowned luxury fragrance brand. One of the major contenders that’s been brought up is BlackRock, a prominent private equity group. In February 2020, BlackRock made headlines by announcing it’s intention to become the majority shareholder of Creed. This news brought both excitement and skepticism among fragrance enthusiasts and industry insiders alike.
However, it’s essential to note that the fragrance industry is no stranger to ownership changes and acquisitions. In June 2023, Creed took yet another significant turn as it was acquired by Kering, a global luxury goods conglomerate, for an astonishing price tag of €3.5 billion. This move further solidified Creeds position in the luxury fragrance market and sparked discussions about the brands future under the umbrella of Kering.
While BlackRocks involvement as a previous majority shareholder may have generated attention and speculation, it’s crucial to recognize that the playing field has since shifted. Kerings acquisition of Creed signifies a potentially new chapter for the brand, one that aligns with Kerings strategy of expanding it’s presence in the luxury sector. With Kerings vast portfolio of prestigious fashion and lifestyle brands, Creed now finds itself in the company of industry giants like Gucci, Saint Laurent, and Bottega Veneta.
The History and Evolution of Creed as a Luxury Fragrance Brand
- Creed is a luxury fragrance brand with a rich history and evolution.
- Founded in 1760 by James Henry Creed, the brand has been creating unique and exquisite fragrances for over 260 years.
- Creed’s fragrances have been enjoyed by royalty and esteemed individuals throughout history.
- The brand gained popularity in the 19th century when it became the official supplier of fragrances to the British royal family.
- Over the years, Creed has perfected it’s craftsmanship and maintained it’s commitment to using high-quality ingredients.
- Each fragrance is meticulously created using traditional techniques and a blend of rare and precious materials.
- Creed has also embraced modern innovation while staying true to it’s heritage.
- Today, the brand continues to release new fragrances that capture the essence of luxury and sophistication.
- Creed’s fragrances are highly sought after and cherished by fragrance enthusiasts worldwide.
- The brand’s dedication to excellence and it’s timeless creations have solidified it’s position as a leader in the luxury fragrance industry.
In a surprising turn of events, the renowned perfume house of Creed has reportedly been sold to BlackRock Long Term Private Capital and Javier Ferrán, the chairman of Diageo. These revelations, shared by Bourdon and obtained through Jean-Claude Ellena, shed light on a significant change in the ownership of Creed after years of being under tight family management. The details surrounding this acquisition unravel an intriguing chapter in the history of the iconic fragrance brand.
Did Creed Get Sold to BlackRock?
The news of Creeds alleged acquisition by BlackRock and Javier Ferrán has sparked immense curiosity and speculation within the fragrance community. After years of being closely held within the Creed family, this unexpected shift in ownership has left many wondering about the future of the esteemed perfume house. The details provided by Bourdon, presumed to be a reliable source reached through Jean-Claude Ellena, have only added to the intrigue surrounding the sale.
BlackRock Long Term Private Capital, known for it’s extensive investments in various sectors, and Javier Ferrán, a prominent Spanish businessman with his chairmanship at Diageo, are formidable players in the business world. Their involvement in the acquisition of Creed raises questions about their intentions and potential impact on the brands legacy.
Will Creed, under new ownership, be guided down a different path, or will it remain faithful to it’s heritage and continue producing exquisite fragrances cherished by enthusiasts worldwide? The loyal followers of Creed eagerly await further developments and hope that the brands commitment to craftsmanship and artistry will remain untarnished amid this transition.
While this unexpected sale undoubtedly marks a significant milestone in Creeds history, it’s essential to maintain a balanced perspective and keep an open mind about the potential outcomes. The perfume house will now be under the stewardship of individuals known for their strategic decision-making and business acumen.
Source: The Creed Fragrances Brand Sold to Kering – Fragrantica
Conclusion
In conclusion, the acquisition of Creed by Kering SA marks a significant move in the luxury industry. As the owner of renowned brands such as Gucci, Kering's decision to expand into the high-end fragrance market highlights the continued demand for luxury products in this sector. The all-cash deal with Creed is a testament to their confidence in the brand's reputation and potential for growth.
