When fashion and star system fight for the premium beauty market

Within a single brand, the fashion, perfume and cosmetics departments are now closely linked. The packaging, design and style of perfumes and cosmetics must be consistent with the fashion collections of the moment. If for cosmetics, the new product and new formula pace must be consistent, perfume has the advantage of a true longevity. Chanel's legendary N°5 celebrated its 100th anniversary in 2021 and, since the date of its creation by Ernest Baux, it has symbolized the refinement of the brand and become its ambassador.

Kering recently announced the appointment of Raffaella Cornaggia, former international general manager at Estée Lauder, to its new beauty division. Created to boost growth among the group's cosmetics brands, this business is becoming increasingly profitable and is of great interest. Her appointment aims to generate new profits linked to Kering's fashion brands such as Balenciaga, Alexander Mc Queen, or Bottega Veneta, among others.

Gucci and Yves Saint Laurent on the other hand -considered as the heavyweights of the group- are managed separately for reasons related to licenses. Yves Saint Laurent beauty products are under L'Oréal, while Gucci fragrances and skincare as well as make-up products are managed by the American giant Coty.

If Kering, like other luxury groups, aims to ensure the growth of its premium beauty products, it is because the figures of the international market for high-end cosmetic lines are very promising: in the United States premium beauty products generated a turnover of $27.1 billion in 2022, a 15% jump compared to the results of this market the previous year.