Aiming at a business opportunity worth hundreds of billions of dollars, Kering Group announced that three major fashion brands will set up a beauty department.

Kering Group, which owns GUCCI, YSL and other fashion luxury goods, recently announced that it will open a new beauty department for its Balenciaga, Bottega Veneta, Alexander McQueen and other brands, and has hired a former executive from the beauty leader Estée Lauder to manage it. Beauty Market 100 Billion Dollar Business Opportunity!

Skin care, beauty and make-up have become the daily routine of many people, and the business opportunities they contain are huge. According to the estimation of Euromonitor, a foreign research institution, by 2026, the beauty market will reach US$729.7 billion (approximately 21.9 trillion Taiwan dollars). It is no wonder that such a huge business opportunity has attracted fashion and luxury groups and invested in it one after another.

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By 2026, the size of the beauty market will reach USD 729.7 billion.

For example, Hermès and GUCCI have stepped into the cosmetics business from the original perfume line in recent years, and have recorded outstanding results. Among them, Hermès has been crowned as "Affordable Hermès", and it has set a record of rush purchases every time it is launched; it belongs to the Kering Group In recent years, GUCCI Beauty has risen online with "appearance and usability". However, it is currently authorized to be managed and operated by Coty Coty Group. Kering Group hinted last year that it may withdraw its beauty products. Control power shows the group's ambition to "do it by itself".

The outstanding performance of GUCCI Beauty in recent years has made the parent company Kering want to "do it by itself".

Sure enough, as one of the leading luxury groups, Kering’s first major announcement in 2023 is that it will open a new beauty department for its brands such as Balenciaga, Bottega Veneta, and Alexander McQueen!

According to the "Business of Fashion" report, Kering Group announced that it will hire Raffaella Cornaggia, a former executive of Estée Lauder (Estée Lauder), one of the leading beauty cosmetics, as the CEO of this new beauty department, who has more than 25 years in the beauty industry , While working in the Estee Lauder Group, he also participated in the execution of Tom Ford Beauty, MAC Cosmetics, Aerin and the beauty series of the same name, with complete and rich qualifications.

It is not difficult to see the group's ambition to expand the field of beauty makeup when Kering Group recruited this magic assistant. What kind of beauty makeup products with deep brand DNA will be launched by Balenciaga, Bottega Veneta, and Alexander McQueen?

Fans are also looking forward to it.

Bottega Veneta's most famous woven bag is expected to become the main design inspiration of the beauty line.

How Alexander McQueen's avant-garde and bold lines will be presented in beauty makeup is also exciting.

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