L'Oréal will take over the Gucci Beauty license one year ahead of schedule, as current licensee Coty agrees to an early end of the partnership with Kering for $400m. L’Oréal Groupe has entered into a 50-year exclusive license agreement to create, develop and distribute Gucci Beauty fragrances and beauty products after former licensee Coty Inc. agreed to terminate its Gucci license agreement early for approximately $400m.