PARIS — What will it mean for Coty Inc. when it loses the Gucci fragrance in 2028?

Analysts are speculating about just that hours after it was announced Sunday night that L’Oréal now has the rights to enter into a 50-year exclusive license for the creation, development and distribution of fragrance and beauty products for Gucci , starting in 2028, when Coty’s license with Kering expires.

That is part of the 4-billion-euro deal revealed between L’Oréal to acquire Kering Beauty and forge a strategic partnership in beauty and wellness.

“We have long assumed Coty would lose the Gucci license upon expiration in 2028 and do think the Street has largely come around to this view as well,” wrote Lauren Lieberman, a Barclays analyst, in a research note. “We estimate the loss of Gucci cou

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