Saw this on the news today. The Reuters article (Kering snaps up fragrance label Creed for new beauty division - https://www.reuters.com/markets/deals/kering-snaps-up-fragrance-label-creed-new-beauty-division-2023-06-26/) mentions expanding the women's line, but what about the men's fragrance etc? Also, the figure I saw on the news was 1.6 billion USD. That seems like an awful lot for a fragrance house, but I'm not in the world of high finance. I'd love to know if anybody has heard any plans for men's products.
Kering buys Creed
- Thread starter emwolf
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It was 3.83 billion USD (€3.5 billion), not 1.6 billion. ...and Creed fragrances are $3-400 a bottle, so not unexpected. The value of a marque like Creed is more than just their assets and sales. It's also the immense heritage and prestige of the brand. Kering also owns Gucci.
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I have dropped the $300/bottle for Aventus and GIT. Just wondering what Kering's intentions are for the men's line.
I had some Creed once I was PIFed a sample. Unlikely I would ever spend that much on cologne but it was…..damn smelly goody! I have some Penhaligon’s that IMO is just as smelly goody at 1/3 the price. So that’s what I wear. I imagine women’s fragrance is worth 10x what the men’s market is worth.
Heritage? I thought that was well known in the industry to be pure fabrication. Creed was a tailor in Paris, and that’s all.
Nobody has been able to produce the slightest evidence that Creed made a single fragrance before 1970. But the clever thing (if dishonesty can be considered clever) was that they claimed to have made exclusive bespoke perfumes for royalty. Who could ever contradict such a claim about non-specific people who would in any case be long dead?
It worked anyway. Made Creed a very successful brand out of nothing at all.
A glovemaker in London, actually. The move to Paris was later.
As for the fragrances, yes, those were first commercially sold in the 70's, but there's no evidence that they didn't make bespoke fragrances before that, either.
Chalk one up for the marketing team.
There’s no evidence I didn’t make fragrances for royalty too.
Yep, a bold marketing play but they got away with it. Now they get billions, like Elon Musk used to have.
I assume Kering's intentions toward Creed are the same as Puig's when it took over Penhaligon's in 2015, strictly keep to Pen's traditions as to types and quality and scents and keep the prices low, even though the paid a premium for the brand.
But, funny, Pen's prices have gone way up since 2015 and Pen's has introduced a whole bunch of new scents apart from any of its large collection of existing, often long existing scents.
I highly suspect that Kering thinks it can either charge more for Creed that the previous owner was charging and/or can make the product for less. Or, I suppose, can market and sell the product better, but I do not know why the latter would be so. Seems to me Creed is well-known and widely available.
And, it is interesting how made up a lot of what Creed says about itself is. An easy comparison is to Pen's, which really have been making scents for as long as it says and, as far as I know, really did have their scents as favorites of specific famous people.
That said, Creed has been responsible for creating some of my very favorite scents, many of them apparently from the early 1970s and not longer available, but some fairly new and still around.
Perhaps they believe they can expand Creed in lucrative markets like China, like they did with Gucci. I don’t know if Creed is widely known or sold in a lot of the world today outside of Europe and America.I assume Kering's intentions toward Creed are the same as Puig's when it took over Penhaligon's in 2015, strictly keep to Pen's traditions as to types and quality and scents and keep the prices low, even though the paid a premium for the brand.
But, funny, Pen's prices have gone way up since 2015 and Pen's has introduced a whole bunch of new scents apart from any of its large collection of existing, often long existing scents.
I highly suspect that Kering thinks it can either charge more for Creed that the previous owner was charging and/or can make the product for less. Or, I suppose, can market and sell the product better, but I do not know why the latter would be so. Seems to me Creed is well-known and widely available.
And, it is interesting how made up a lot of what Creed says about itself is. An easy comparison is to Pen's, which really have been making scents for as long as it says and, as far as I know, really did have their scents as favorites of specific famous people.
That said, Creed has been responsible for creating some of my very favorite scents, many of them apparently from the early 1970s and not longer available, but some fairly new and still around.
A fair point. I do not know either. I would think it would be known in the Middle East. Judging by the gray market bottles of scents that seem to come through with Arabic writing on their packaging, the Middle East seems to have some excellent western scents available. I really have no idea what the Far East likes.
Leather supplier James Henry Creed turned to perfume in 1780, creating Royal English Leather for King George III. Prince Rainier of Monaco commissioned Fleurissimo, an elegant floral, in 1956, as a wedding gift for his bride, Grace Kelly.
The House of Creed’s Royal History - https://news.yahoo.com/the-house-of-creed-s-royal-history-1408989493-slideshow.html ,,,,,,,,
There are more that I would "think" would show some of their "History"
...
Yes, these are the sort of marketing claims that Creed puts out, and the Yahoo article repeats it. But there is nothing to substantiate any of it. Not an old perfume bottle, letter, supplier invoice, or anything. As far as I understand it is well known in the industry that all these claims are simply made up.
Neither Queen Victoria nor Princess Grace of Monaco can clarify matters, unfortunately. Coincidentally, Princess Grace once knocked on my door to ask for a cup of sugar, and we became firm friends for many years and regularly went cycling together. Trust me on that.
Also, contrary to the marketing, Oliver Creed has never designed a perfume and the Creed fragrances were all designed by established perfumers, at least one of whom later exposed this in a book he released. Oliver Creed’s famed ‘nose’ is in his wallet.
It’s all a very brazen scam, but the perfumes are high quality and the legend is stronger in the public mind than reality.
I've read biographies of some of the people "for" whom Creed claims to have made fragrances in the past. But before I mention that, I'll say some of the fragrance profiles just don't suit the time period at all (to the point of the practical impossibility of their having existed), and some were supposedly commissioned or used by people who were known to dislike using personal fragrances, or who were notoriously cheap in their tastes (and since Creed clearly wasn't getting any endorsements or advertising out of the person, why create and supply for that person for free?).
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I do know that most of that historical stuff for Creed is nonsense, but they do make great fragrances. I have tried the real historical fragrances and many of them are excellent, for instance Caswell-Massey Number Six is one of my favorites with a real and verifiable history with George Washington.
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Blackrock flipped Creed pretty quickly.
Listen to that cash register ring!
Listen to that cash register ring!
