Gucci License Transfer

Coty Inc. has agreed to return its Gucci Beauty license to Kering for a total consideration of approximately $400 million. Under the arrangement, Coty will receive $250 million in cash immediately and an additional $150 million no later than September 30 2027, with up to $30 million contingent on meeting specific performance criteria. The transaction will allow Coty to continue operating Gucci Beauty through at least June 30 2027, ending the license about one year ahead of the original term.