L’Oréal courts Creed, Bottega, Balenciaga. Your nose should pay attention.

If you heard a quiet gulp in niche land, that was me. L’Oréal just scooped up Creed, plus inked a half-century license to run Bottega Veneta and Balenciaga beauty. There is also an option on Gucci Beauty, which stays with Coty until at least 2028. Markets were cautious, but my sample drawer is buzzing louder than the trading floor.

Let’s start with Creed. For years, fans argued over pineapple lots and smoky lots of Aventus, whispered about batch codes, and debated whether Green Irish Tweed still has that aristocratic snap. Under a beauty giant, expect cleaner supply chains, stricter IFRA compliance, broader distribution, and yes, steadier batches. The upside is consistency. The risk is that Skeletor of reformulation sneaking in. Is Aventus about to become the next airport superstar, or can it keep its swagger without the artisanal mythos that fueled it?

The 50-year play on fashion houses is the spicier move. Bottega Veneta and Balenciaga had beloved scents that slipped from shelves during license limbo. I would not be shocked to see a polished comeback for Bottega Veneta Eau de Parfum, that suede-chypre with immaculate posture. And if Florabotanica or B. Balenciaga reappear, they could finally get the scale and storytelling they deserved. L’Oréal knows how to build pillars, then flank them with travel retail candy. Done right, we could see distinctive signatures, not just crowd-pleasers.

The Gucci Beauty option sets the stage for 2028. Imagine a real reset for Gucci Bloom or a more daring chapter beyond Gucci Guilty. But options are not outcomes, and Coty is not handing over the keys early.

Prices rarely go down, so budget for climbs on iconic bottles. Expect launches timed to fashion cycles, sculpted counters, AI shade-matching for makeup that bleeds into fragrance discovery, and heavy pushes in Sephora and travel retail. Investors calling this a medium-term story are probably right. The recalibration of formulas, sourcing, and brand narratives will take time.

Personal confession. I wore Green Irish Tweed with a black blazer last spring, and it felt like a wink in a boardroom. If that feeling survives the transition, I will be the first to say so. If it doesn’t, you’ll hear that from me too.