French luxury group Kering, owner of fashion brand Gucci, is nearing the sale of its beauty division to L’Oreal, The Wall Street Journal reported. The deal, worth around $4 billion, would see the acquisition of fragrance brand Creed. L'Oreal will also gain rights to develop beauty products tied to Kering’s fashion labels, including Bottega Veneta, Balenciaga, and Alexander McQueen.