French luxury group Kering has announced a completely new division that will focus on beauty. Titled Kering Beautรฉ, the introduction of the beauty category will be โstrategically importantโ as part of the groupโs efforts to build โa new area of expertiseโ and has been developed in hopes to build Kering brands launch their own beauty products โ think Bottega Veneta, Balenciaga and Alexander McQueen. Can you imagine what it would smell like? Luxury.
However, according to the Financial Times, Kering will “not be able to develop product lines for Gucci, Keringโs crown jewel brand, or Yves Saint Laurent, the French fashion house, because Coty has the beauty licence for Gucci until at least 2028, while YSL cosmetic products are produced by LโOrรฉal.”
Further confirming that Kering will be bringing much of its brand’s beauty in-house, the luxury conglomerate announced the appointment of Raffaella Cornaggia as CEO of Kering Beautรฉ. According to the official statement, Cornaggia will “help develop an expertise in the Beauty category for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin.”
โI am delighted to welcome Raffaella Cornaggia, who brings us considerable experience in a segment that we see as strategically important for our Houses,” said Jean-Franรงois Palus, Group Managing Director. “We are building this new area of expertise within our Group to ensure that our brands can fulfil their potential in this category.โ
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