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The Italian luxury group Dolce&Gabbana has created a new company to directly manage the development, production and sale of its perfumes and cosmetics.
At Dolce & Gabbana, the perfumes and cosmetics activities will be internalized. This decision is a first for an Italian luxury group. “We are thinking about a business model that could include links and partnerships with our producers,” Dolce told the financial weekly L’Economia of Corriere della Sera.
The licensing agreement with Japanese cosmetics giant Shiseido ended in December. For the group, this initiative is part of a “long-term strategy that commits us to consolidate, cultivate and promote the excellence of Italian craftsmanship and manufacturing“, adds Mr.Dolce.
The new company will start with a capital of between 200 and 250 million euros, thanks to self-financing and the “support of the banking system“, says Dolce. It will employ between 130 and 150 people in Italy by March 2023 and another 100 to 120 abroad.
Dolce will be the president and former LVMH executive Gianluca Toniolo will be the CEO. The latter told L’Economia that the retail value of Dolce&Gabbana’s beauty business is just over €1 billion, with fragrances accounting for the majority, adding that the new company’s goal will be to “double or even triple” its market share in the fragrance sector, strengthen its position in makeup and develop skin care products, which the group does not yet have.
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The Italian luxury group Dolce&Gabbana has created a new company to directly manage the development, production and sale of its perfumes and cosmetics.
At Dolce & Gabbana, the perfumes and cosmetics activities will be internalized. This decision is a first for an Italian luxury group. “We are thinking about a business model that could include links and partnerships with our producers,” Dolce told the financial weekly L’Economia of Corriere della Sera.
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The Italian luxury group Dolce&Gabbana has created a new company to directly manage the development, production and sale of its perfumes and cosmetics.
At Dolce & Gabbana, the perfumes and cosmetics activities will be internalized. This decision is a first for an Italian luxury group. “We are thinking about a business model that could include links and partnerships with our producers,” Dolce told the financial weekly L’Economia of Corriere della Sera.
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