Fri Oct 04 05:00:00 UTC 2024: ## Kering Beauté CEO Unveils Ambitious Plan to Build Beauty Empire
**PARIS** – Kering Beauté, the newly established beauty division of luxury conglomerate Kering, is on a mission to create a powerhouse in the beauty industry. In her first interview since taking the helm, CEO Raffaella Cornaggia revealed her vision for the division, emphasizing innovation, creativity, and sustainability as key pillars.
“We have among the most beautiful houses in the luxury industry in the portfolio,” Cornaggia stated, referring to brands like Bottega Veneta, Balenciaga, and Alexander McQueen, for which Kering owns the beauty rights.
Cornaggia’s strategy involves developing products that reflect the unique identity of each brand, while also tapping into the accessibility of the beauty category. “Beauty is a natural extension of the Kering houses’ universe,” she explained. “Developing a more accessible category amplifies the brand universe and creates a natural entry point for our customers.”
The division has already made significant moves, focusing initially on fragrances. Bottega Veneta recently launched its first fragrance collection, inspired by Venice and the brand’s signature intrecciato leather weave. The collection is a testament to Kering Beauté’s commitment to developing products that encapsulate the essence of each brand.
Kering Beauté also acquired Creed, the oldest-existing niche fragrance house, for an estimated 3.5 billion euros. Cornaggia called the acquisition “an integral part of our strategy,” emphasizing the need for scale in the competitive beauty market.
“We want to be a leading player in beauty. To do so, we needed scale,” Cornaggia stated. “Creed was the perfect fit.”
Beyond acquisitions, Kering Beauté has also invested in smaller brands like Matière Première, a French niche perfumery label known for its exceptional ingredients.
Cornaggia is optimistic about the future, highlighting the strong potential of the brand portfolio. “We have an amazing journey ahead of us, because we have amazing brands — with all of them, a formidable potential of development,” she said.
With a focus on innovation, sustainability, and a portfolio of iconic luxury brands, Kering Beauté is poised to make a significant impact in the beauty industry.
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