Kering, the luxury goods company, has announced plans to sell its beauty unit to L’Oreal for $4.7 billion. This sale will allow Kering to focus on its core luxury fashion business. The beauty unit includes brands like Gucci and Yves Saint Laurent. The deal is expected to close in the second half of 2022.

Read more at Investing.com: Kering to sell beauty unit to L’Oreal for $4.7 billion