Kering have announced the creation of a new division, Kering Beauté, headed by former Lauder executive, Raffaella Cornaggia (pictured below). The new division will develop and market fragrance and cosmetics products for Kering's brands such as Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin.
Kering (formerly known as PPR, and before that, Pinault-Printemps-Redoute) is French-based multinational corporation specializing in luxury goods. The company has dabbled in creating its own beauty products before, when in 1999 it acquired Yves Saint Laurent from Sanofi Beauté. During this time, YSL launched cult classics such as M7, Nu, Rive Gauche pour Homme and Alexander McQueen's Kingdom. In 2008, PPR decided to license out the YSL Beauty division to L'Oréal.
Kering's Group Managing Director, Jean-François Palus, said "I am delighted to welcome Raffaella Cornaggia, who brings us considerable experience in a segment that we see as strategically important for our Houses. We are building this new area of expertise within our Group to ensure that our brands can fulfill their potential in this category."
Raffaella Cornaggia began her career at L’Oréal where she occupied various roles for 10 years in Italy and in France, before joining Chanel Parfums Beauté as Global Vice President, Marketing Makeup. In 2008, she joined Estée Lauder Companies at the time of the creation of its EMEA region to lead the marketing for Estée Lauder and Tom Ford Beauty, based in Paris. She then moved to Asia where she was appointed Senior Director, Brand Development for Estée Lauder and Tom Ford Beauty, and later promoted Vice President and General Manager for MAC Cosmetics in the region. In 2017, she spearheaded the development of the Travel Retail business worldwide for Estée Lauder and Aerin, as Senior Vice President and General Manager, based in New York. She then became International Senior Vice President and General Manager for the brands in 2020, responsible for worldwide business outside of the US and Canada.
Raffaella Cornaggia. credit : © Jean-François Robert / modds
Kering has been frustrated with the way some of its brand licenses have been handled in the past. In 2020, Kering chairman Francois-Henri Pinault told a press conference, "The potential is enormous, we’re pretty frustrated with the speed at which that potential is being exploited." He recently told Fashion Network, "The aim is to set up a platform that will enable us to develop, starting with perfume, ranges that are very consistent with the image of the houses. It's not just about having the perfumes in house, but that the image, the advertising investments be coherent with the image and the standing of the house. This is where there is frustration today."
A Coty spokesperson told Beauty Matter that Bottega Veneta, Balenciaga and Alexander McQueen were “smaller growth brands with a more limited scale and footprint” and as a result relinquished the brands back to Kering.
Alexander McQueen debuted his first fragrance, Kingdom, in partnership with the then Kering owned YSL Beauté back in 2003. When L'Oreal acquired the YSL licenses in 2008, McQueen wasn't renewed, and all of the products were discontinued. The license was picked up by Procter & Gamble in 2013, and subsequently acquired by Coty when it picked up P&G in 2015. Under Coty, the most recent fragrances produced was the McQueen Collection in 2018.
When Coty picked up the Balenciaga license in 2008, they pretty much wiped the slate of historic Balenciaga scents such as Balenciaga pour Homme, and Le Dix, and instead concentrated on new lines such as Balenciaga Paris, B and Florabotanica. The most recent Coty launch for Balenciaga was 2016's B. Intense
Kering acquired Bottega Veneta in 2001, and partnered with Coty Prestige in 2009 to create a line of fragrances, which included the eponymous scent, Knot and the Parco Palladiano range.
Brioni have had several false starts in the fragrance industry. Their first foray was in the 1950s, with reboots happening in 2009, 2014 and most recently in 2021. The license is currently with Lalique group, which had initial signed an agreement with an initial term until end-2024. It is currently unknows whether Kering will bring it in-house after 2024.
Gucci was acquired by Kering back in 1999, when Gucci's fragrances were made by Wella's Cosmopolitan Cosmetics Division. In 2003, Wella was acquired by Procter & Gamble, and in 2015 P&G Prestige's licenses were acquired by Coty, and Gucci's perfume license has followed along the way. It doesn't seem like Gucci will be heafing to Kering any time soon. A Coty spokesperson told Beauty Matter, "We have no major license up for renewal in the next six years, and the average remaining length of our major licenses is 10 years."
Pomellato is an Italian luxury jewelry brand that was founded in 1967 by Pino Rabolini. The brand is known for its colorful gemstones, bold designs, and use of unconventional materials. It has created fragrances in the past with Spanish company, Idesa, most recently in 2014.
Qeelin is a luxury jewelry brand that was founded in 2004 in Hong Kong by designer Dennis Chan and businesswoman Guillaume Brochard. Qeelin is known for creating contemporary jewelry pieces that blend Chinese cultural elements with modern design concepts. The brand was acquired by Kering in 2013, and hasn't yet created any perfumes.
(See a YSL timeline here). Despite Kering having YSL fragrances in-house in the early 2000s, they've been at L'Oréal since 2008, and there's no sign they will be moving back to Kering anytime soon. Pinault says "It's a long licence, It is going very well. When I see what we manage to do with the Saint Laurent licence, which is one of the biggest licences in the world today, and then I see what we haven't done with the licences of other brands... That's also why we made the decision to create our own division."
As yet, there's no word on when the first of Kering's fragrances will launch.
Kering (formerly known as PPR, and before that, Pinault-Printemps-Redoute) is French-based multinational corporation specializing in luxury goods. The company has dabbled in creating its own beauty products before, when in 1999 it acquired Yves Saint Laurent from Sanofi Beauté. During this time, YSL launched cult classics such as M7, Nu, Rive Gauche pour Homme and Alexander McQueen's Kingdom. In 2008, PPR decided to license out the YSL Beauty division to L'Oréal.
Kering's Group Managing Director, Jean-François Palus, said "I am delighted to welcome Raffaella Cornaggia, who brings us considerable experience in a segment that we see as strategically important for our Houses. We are building this new area of expertise within our Group to ensure that our brands can fulfill their potential in this category."
Raffaella Cornaggia began her career at L’Oréal where she occupied various roles for 10 years in Italy and in France, before joining Chanel Parfums Beauté as Global Vice President, Marketing Makeup. In 2008, she joined Estée Lauder Companies at the time of the creation of its EMEA region to lead the marketing for Estée Lauder and Tom Ford Beauty, based in Paris. She then moved to Asia where she was appointed Senior Director, Brand Development for Estée Lauder and Tom Ford Beauty, and later promoted Vice President and General Manager for MAC Cosmetics in the region. In 2017, she spearheaded the development of the Travel Retail business worldwide for Estée Lauder and Aerin, as Senior Vice President and General Manager, based in New York. She then became International Senior Vice President and General Manager for the brands in 2020, responsible for worldwide business outside of the US and Canada.
Raffaella Cornaggia. credit : © Jean-François Robert / modds
Kering has been frustrated with the way some of its brand licenses have been handled in the past. In 2020, Kering chairman Francois-Henri Pinault told a press conference, "The potential is enormous, we’re pretty frustrated with the speed at which that potential is being exploited." He recently told Fashion Network, "The aim is to set up a platform that will enable us to develop, starting with perfume, ranges that are very consistent with the image of the houses. It's not just about having the perfumes in house, but that the image, the advertising investments be coherent with the image and the standing of the house. This is where there is frustration today."
A Coty spokesperson told Beauty Matter that Bottega Veneta, Balenciaga and Alexander McQueen were “smaller growth brands with a more limited scale and footprint” and as a result relinquished the brands back to Kering.
Kering's Beauty History
Alexander McQueen
Alexander McQueen debuted his first fragrance, Kingdom, in partnership with the then Kering owned YSL Beauté back in 2003. When L'Oreal acquired the YSL licenses in 2008, McQueen wasn't renewed, and all of the products were discontinued. The license was picked up by Procter & Gamble in 2013, and subsequently acquired by Coty when it picked up P&G in 2015. Under Coty, the most recent fragrances produced was the McQueen Collection in 2018.
Balenciaga
When Coty picked up the Balenciaga license in 2008, they pretty much wiped the slate of historic Balenciaga scents such as Balenciaga pour Homme, and Le Dix, and instead concentrated on new lines such as Balenciaga Paris, B and Florabotanica. The most recent Coty launch for Balenciaga was 2016's B. Intense
Bottega Veneta
Kering acquired Bottega Veneta in 2001, and partnered with Coty Prestige in 2009 to create a line of fragrances, which included the eponymous scent, Knot and the Parco Palladiano range.
Brioni
Brioni have had several false starts in the fragrance industry. Their first foray was in the 1950s, with reboots happening in 2009, 2014 and most recently in 2021. The license is currently with Lalique group, which had initial signed an agreement with an initial term until end-2024. It is currently unknows whether Kering will bring it in-house after 2024.
Gucci
Gucci was acquired by Kering back in 1999, when Gucci's fragrances were made by Wella's Cosmopolitan Cosmetics Division. In 2003, Wella was acquired by Procter & Gamble, and in 2015 P&G Prestige's licenses were acquired by Coty, and Gucci's perfume license has followed along the way. It doesn't seem like Gucci will be heafing to Kering any time soon. A Coty spokesperson told Beauty Matter, "We have no major license up for renewal in the next six years, and the average remaining length of our major licenses is 10 years."
Pomellato
Pomellato is an Italian luxury jewelry brand that was founded in 1967 by Pino Rabolini. The brand is known for its colorful gemstones, bold designs, and use of unconventional materials. It has created fragrances in the past with Spanish company, Idesa, most recently in 2014.
Qeelin
Qeelin is a luxury jewelry brand that was founded in 2004 in Hong Kong by designer Dennis Chan and businesswoman Guillaume Brochard. Qeelin is known for creating contemporary jewelry pieces that blend Chinese cultural elements with modern design concepts. The brand was acquired by Kering in 2013, and hasn't yet created any perfumes.
Yves Saint Laurent
(See a YSL timeline here). Despite Kering having YSL fragrances in-house in the early 2000s, they've been at L'Oréal since 2008, and there's no sign they will be moving back to Kering anytime soon. Pinault says "It's a long licence, It is going very well. When I see what we manage to do with the Saint Laurent licence, which is one of the biggest licences in the world today, and then I see what we haven't done with the licences of other brands... That's also why we made the decision to create our own division."
As yet, there's no word on when the first of Kering's fragrances will launch.
