Kering Launches Beauty Division with New Hire from Estée Lauder

Kering Launches Beauty Division with New Hire from Estée Lauder

Kering, the company that owns Gucci, is creating a new beauty division called Kering Beauté.

The company has hired Raffaella Cornaggia, a former senior executive at Estée Lauder, to lead the division.

Ms. Cornaggia will help create beauty products for brands such as Bottega Veneta, Balenciaga, and Alexander McQueen.

Kering said the new division would help its brands reach their full potential in the beauty market.

The creation of Kering Beauté is part of a trend where luxury goods companies are taking control of their beauty products instead of licensing them to third parties.

Ms. Cornaggia has much experience in the beauty industry. She started her career at L’Oréal and worked in Chanel’s beauty business before joining Estée Lauder.

Kering hopes the new beauty division will succeed like its eyewear unit, which was created in 2014.

Gucci recently hired a new creative director, Sabato De Sarno, to revitalize the brand after its growth slowed.

In addition, Kering’s CEO, François-Henri Pinault, visited China this week to meet with local government officials and landlords and to visit stores.

Beauty products have become more popular recently, with people willing to spend money to look and smell good.

However, recent inflation and worries about a recession have led some US retailers to be more cautious.

Kering executives are counting on a bounceback in demand from Chinese shoppers as the Covid-19 restrictions in the country are lifted.

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