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Search resuls for: "Raffaella Cornaggia"


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Kering snaps up fragrance label Creed for new beauty division
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +1 min
PARIS, June 26 (Reuters) - Gucci-owner Kering (PRTP.PA) said on Monday it had struck a deal to buy high-end French fragrance label Creed, its first acquisition since flagging intentions earlier this year to create an in-house cosmetics business. "The acquisition clearly marks a major step for Kering Beaute, allowing it to reach critical mass in this category," said Raffaella Cornaggia, CEO of Kering's beauty division. The former Estee Lauder executive was appointed in February to lead the French group's push into the segment. The all-cash deal to acquire 100% of the high-end fragrance house from funds controlled by BlackRock and by the company's current chairman Javier Ferran is expected to close in the second half this year. Reporting by Mimosa Spencer; Editing by Benoit Van Overstraeten and Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: Kering, Raffaella Cornaggia, Lauder, Javier Ferran, Mimosa Spencer, Benoit Van Overstraeten, Mark Potter Organizations: BlackRock, Thomson Locations: French
LVMH rejigs beauty division, names Stephane Rinderknech CEO
  + stars: | 2023-03-06 | by ( ) www.reuters.com   time to read: +2 min
PARIS, March 6 (Reuters) - LVMH (LVMH.PA), the world's largest luxury company, on Monday named Stephane Rinderknech as chairman and CEO of its beauty division, rounding out a series of broader management changes at the owner of Guerlain and Parfums Christian Dior. Rinderknech will take up global responsibility for the group's beauty business, while Guerlain head Veronique Courtois becomes president and CEO of Parfums Christian Dior. Make Up For Ever head Gabrielle Saint-Genis Rodriguez will be president and CEO of Guerlain. The changes come as luxury groups, which have been riding a strong wave of post-pandemic demand for designer labels, look to expand in their beauty activities. As part of that process, the group in January folded Tiffany into the watches and jewellery division, under the management of Stephane Bianchi.
PARIS—Gucci-owner Kering SA has tapped a senior Estée Lauder Cos. executive to lead a new beauty division, as the luxury giant looks to expand in cosmetics and perfumes. Raffaella Cornaggia will help develop beauty offerings for brands including Bottega Veneta, Balenciaga and Alexander McQueen. Kering said the Italian national would bring strong experience to a strategically important area.
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