July 7 (Reuters) – Coty said on Tuesday it had agreed to transition the Gucci Beauty license back to Kering about a year before the original license term ends for about $400 million.
Under the agreement, Coty will continue to operate Gucci Beauty through at least June 30, 2027, before the license transfers back to Kering. The original license had been due to run for roughly another year.
The cosmetics company also agreed to sell Kering enough Gucci Beauty inventory to support the transition.
(Reporting by Sanskriti Shekhar in Bengaluru ; Editing by Tasim Zahid)
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