Kering to Create a Beauty Division

Kering, the French luxury group that owns prestigious brands such as Gucci, Yves Saint Laurent, and Balenciaga, has announced the creation of a Beauty division. This new entity aims to develop lines of cosmetics and perfumes for its various fashion houses.

A Strategic Diversification:

This initiative is part of a diversification strategy for Kering, which aims to extend its influence in the beauty market, a rapidly growing sector. The group is relying on the reputation and image of its luxury brands to attract a demanding clientele seeking high-end products.

Raffaella Cornaggia to Head the Division:

To lead this project, Kering has appointed Raffaella Cornaggia, formerly at the helm of Estée Lauder, as the head of its Beauty division. Her expertise and knowledge of the sector will be major assets for the development of this new activity.

Significant Growth Potential:

The luxury beauty market represents considerable growth potential for Kering. The group can leverage its international distribution network and knowledge of high-end clientele to conquer this market. The first lines of cosmetics and perfumes are expected to be launched soon, generating excitement among luxury and beauty enthusiasts.

Sources:

• Kering gives the green light to its Beauty division - Luxus Plus: Article