Loreal, FR0000120321

L'Oreal agrees Kering deal: Berenberg targets L'Oreal stock at EUR 447.00

Published on 10/22/2026 at 09:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kering beauty deal totals USD 4.70 billion. L'Oreal stock costs EUR 406.53 on October 22, 2026 against Berenberg's EUR 447.00 target.

Acquisition, results and trading

Kering agreed to sell its beauty business to L'Oreal for USD 4.70 billion on October 22, 2026.
Revenue reached EUR 23.78 billion in the first half of 2026, up 5.83 percent from EUR 22.47 billion.
L'Oreal stock was trading at EUR 406.53 at 9:12 a.m. CEST at Lang & Schwarz on October 22, 2026.

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L'Oreal (FR0000120321) was trading at EUR 406.53 at Lang & Schwarz on October 22, 2026 at 9:12 a.m. CEST as Kering agreed to sell its beauty business to the French cosmetics group for USD 4.70 billion. Economic Times reported on October 22, 2026 that the agreement includes Creed and 50-year beauty and fragrance rights for Kering fashion labels.

Deal expands luxury beauty reach

The transaction would give L'Oreal access to Creed and future fragrance and beauty products linked to brands including Gucci, Bottega Veneta and Balenciaga. Economic Times described the purchase as L'Oreal's largest acquisition to date and put the consideration at USD 4.70 billion on October 22, 2026.

The size of the deal matters against L'Oreal's latest reported scale. For the first half of 2026, revenue was EUR 23.78 billion, compared with EUR 22.47 billion a year earlier, a calculated increase of 5.83 percent. The same report cited net profit of EUR 3.55 billion, versus EUR 3.37 billion previously, according to Markets Insider.

What does the target imply?

Berenberg analyst Bethan Davies maintained a Buy rating and set a EUR 447.00 target on October 20, 2026, according to Markets Insider. Deutsche Bank analyst Tom Sykes maintained a Sell rating with a EUR 350.00 target on the same date, according to Markets Insider. The spread between those targets highlights the valuation debate around the acquisition.

Three dates frame the story

On July 29, 2026, L'Oreal's first-half revenue was EUR 23.78 billion. On October 20, 2026, Berenberg set its EUR 447.00 target. On October 22, 2026, Kering agreed the USD 4.70 billion beauty sale to L'Oreal.

Next company date

L'Oreal's next stated event is its nine-month sales release after the market closes on October 22, 2026, according to the L'Oreal investor-relations page.

Stock price and acquisition scale

The acquisition adds a sizeable luxury-beauty asset to a group that reported EUR 23.78 billion in first-half revenue. The contrasting EUR 447.00 and EUR 350.00 analyst targets leave the market with a wide valuation range.

The further course of trading is shown by the continuously updated real-time quote of Loreal stock.