The French luxury group today made official the creation of its Beauty division, as well as the appointment of Raffaella Cornaggia, former head of Estée Lauder, to head it. This announcement confirms the group’s desire to develop the beauty products of its brands and to diversify while its flagship brand Gucci has decelerated sharply.
Kering, the French luxury group headed by François-Henri Pinault, announced on Friday February 3 the creation of a “Beauty” division, which will develop cosmetics and perfumes. It also announced that Raffaella Cornaggia, former head of Estée Lauder, would take the reins of this new division, “strategic” for the group. The creation of this branch is a “natural extension of the universe” of various brands of the group, such as Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato or Qeelin, explained Kering in a statement.
According to a report by AFP, this division does not include Gucci or Yves Saint Laurent (YSL). The license for the beauty activities of the first, flagship of the Kering group, is in fact held by the American group Coty, while the license for the beauty products of the YSL brand is held by L’Oreal.
A big name to lead the new division
Featured photo : ©Kering