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One of the sources confirmed the deal would be worth around $4 billion, as per an earlier report by the Wall Street Journal, which was first to report the development.

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L’Oreal, the world’s biggest dedicated cosmetics and beauty player, would acquire fragrance brand Creed and gain rights to develop beauty products tied to Kering’s fashion labels, including Bottega Veneta, Balenciaga, and McQueen, the WSJ reported, adding the deal could be announced next week.

Kering, controlled by the French Pinault family, launched its beauty division in 2023, the year it acquired high-end fragrance label Creed for 3.5 billion euros ($4 billion) in cash.

Kering declined to comment and L’Oreal did not immediately respond to a Reuters request for comment.

A sale would be a major step forward by new CEO Luca De Meo, who officially took office in September, to address a high-debt issue that had sparked investor anxiety.

Kering’s net debt was 9.5 billion euros at the end of June.

The company has struggled to reverse slowing sales at its largest brand Gucci as the luxury market has been hard hit by lower consumer demand, especially in China, which had led growth in the sector for more than a decade.

Since Kering announced De Meo’s appointment in mid-June, shares in the company have surged by around 60%.

($1 = 0.8583 euros)

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In his early days as a real estate investor, Mike Zuber started to establish a set of criteria for the types of properties he’d consider buying. Among other things, he wanted single-family homes, with three to four bedrooms, in specific zip codes in Fresno, California. By sticking to that list, he told Business Insider, he was able to scale to more than 100 cash-flowing units, which allowed both him and his wife to quit their full-time jobs.

This strategy, known as the “buy box” strategy, has allowed many new investors to gain a foothold in the industry and grow their portfolios.

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“Most new investors are all over the map,” Zuber told BI. “The first step any new investor needs to do is focus. If you’re going to be a buy-and-hold investor in a new area, get a buy box and make it hyper-focused.”

There are several steps experts suggest taking when beginning to define your buy box. The first is to drive through various neighborhoods, attend open houses, and look at as many existing rental properties as you can. This will allow you to get a feel for the area, as well as the demand and type of resident you’re likely to attract.

Next, they suggest doing your research. Looking into the area’s plans for infrastructure, employment growth, and community growth can help determine the potential future value of your home, they told BI. So spending a few hours digging up a city or county’s 10-year strategic growth plan is well worth your time.

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“Being a bit more rigorous about it can really pay dividends,” Grant Sabatier, a financially independent real estate investor with properties in New York City, told BI. “That’s what I did: I was laser focused on a five-block by four-block radius for a six-month period and then knew immediately when there was a deal that was perfect based on my criteria.”

“The more you know your buy box, the better your chances are at finding a great deal,” Zuber told BI. “You can’t be casual. It has to be purposeful and intentional.”

For Zuber, a great deal is one that has high cash-on-return, or the annual return he makes on a property in relation to how much he spends on that property over the course of a year.