Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “L’Oréal SA”, through one of its subsidiaries, of the license related to the brand “Gucci” in the beauty products sector

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “summary of the operation” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: the company “L’Oréal SA”;
• The target asset: The license related to the brand “Gucci” in the beauty products sector

Nature of the operation

• Asset acquisition

Economic sectors concerned:

• Fragrance and cosmetics market.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. September 14, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

‎The Competition Council received notification of an economic concentration project concerning the acquisition by the company “L’Oréal SA”, through one of its subsidiaries, of the license for the creation, development, manufacture, and distribution of perfumery and beauty products under the brand “Gucci”, from subsidiaries of the company “Kering SA” (as licensor).

“L’Oréal SA” is a French public limited company with its registered office at 14 rue Royale, 75008, Paris, France. It is the parent company and ultimate holding company of the “L’Oréal” group, which globally engages in research, development, manufacturing, marketing, distribution, and sale of beauty and personal care products.

The “Gucci” license for the beauty products sector includes rights related to the creation, development, manufacture, and distribution of perfumery and beauty products under the brand “Gucci”. It is currently operated by a subsidiary of the company “Coty Inc.”.

 

Done in Rabat, on September 3, 2026