Europe Tag

The European beauty scene continues to morph, with Kering taking beauty in-house and Richemont constructing a Laboratoire de Haute Parfumerie. It’s an indication of the times, as luxury makers’ once red-hot trades in China and in fashion cool, and wonder proves its endurance despite the continued tough geopolitical and macroeconomic climate. Still, success within the industry isn’t easy, and there isn't a cookie-cutter approach to constructing the business. Beauty is a lure today for 4 primary reasons — growth, resilience, desirability and margins — in response to Laurent Droin, head of Europe, Middle East and Africa at Eurazeo Brands. Fragrance and cosmetics is a giant, fast-developing business, with the category generating sales last 12 months of roughly $430 billion, in response to a McKinsey...