Analysis-L'Oreal's $4.7 billion Kering beauty buy offers decades of potential

By Dominique Patton PARIS (Reuters) -L'Oreal's $4.7 billion deal to buy cosmetic and fragrance brands from Kering gives the French conglomerate rare 50-year licences, including for Gucci, that are likely to confirm its dominance in a growing part of the beauty sector. That purchase, announced late on Sunday, took advantage of Kering's urgent need to cut debt. As well as the long-term licences to develop beauty products, it gives the conglomerate led by CEO Nicolas Hieronimus control over prestige perfumer Creed. "In the short term, it's a lot of capital to put into largely fragrances, though in the long term, the ability to leverage growth in an iconic fragrance brand as well as create value from the licences is clear," analysts at Deutsche Bank said in a note. LEVERAGING SCALE AND A DISTR