Kering Beauté Names President and CEO of Americas

27 Apr

Updated on April 25 at 4:59 p.m. EST Kering Beauté is bullish on beauty within the Americas — and has named a recent president and chief executive officer of the market. Alexandre Choueiri, who had spent greater than twenty years at L’Oréal, will likely be taking over the newly created role of president and CEO, Kering Beauté Americas. A joint memo from Kering Beauté CEO Raffaella Cornaggia and Creed CEO Sarah Rotheram, sent Wednesday, announced the hire to retailers within the U.S. and noted Choueiri’s experience in L’Oréal’s Luxe division, most recently as global brand president of Ralph Lauren Fragrances. “During his tenure, he implemented a method of brand name elevation and a deal with retail flagships, pop-up stores and digital innovation,” the...

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24 Oct

Kering Looks to the Future in a Cold Climate

by Beautifaire101

Beauty, Featured

LONDON — It was a difficult quarter, with double-digit revenue declines across all its major brands, an in key regions corresponding to Europe and North America, but Kering is undaunted, and planning for higher days ahead. Within the third quarter, Kering saw group revenue fall 13 percent at reported exchange rates and 9 percent on an underlying basis to 4.46 billion euros. The numbers were broadly consistent with analysts’ expectations, and got here amid a wider luxury slowdown and geopolitical upset. Sales at Gucci, Kering’s largest brand, which generates greater than 50 percent of group revenue, fell 14 percent on a reported basis and seven percent underlying to 2.22 billion euros. At Yves Saint Laurent, a brand that’s roughly one-third of Gucci’s size, sales were...

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4 Sep

The Evolution of Kering Beauté – WWD

by Beautifaire101

Beauty, Featured

What will probably be next for Kering Beauté? After months of speculation, the French luxury house in early February said it had begun taking its beauty activity back in-house, and that it appointed Raffaella Cornaggia chief executive officer of Kering Beauté — a latest position in a latest division. She was charged with developing a team with expertise in the sweetness category for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin. On the time, Kering said: “The creation of Kering Beauté will enable the group to support these brands in the event of the sweetness category, which is a natural extension of their universe.” Up until then the thrill had been intensifying about whether Kering would make such a move and if that's the...

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31 Jul

Kering Buys 30% Stake in Valentino, Signaling Latest Strategy

by Beautifaire101

Beauty, Featured

PARIS — Kering said on Thursday it has bought a 30 percent stake in Valentino for 1.7 billion euros in money as a part of a broader strategic partnership with Qatari investment fund Mayhoola, because it seeks to chart a course for growth during a transitional yr for its star brand Gucci. The acquisition, which got here every week after a significant management reshuffle, overshadowed a weak performance within the second quarter that saw Gucci miss market expectations because it adapts to a recent corporate and inventive leadership following the exit of longtime chief executive officer Marco Bizzarri and inventive director Alessandro Michele. Kering has an choice to buy one hundred pc of Valentino’s capital by 2028, while Mayhoola could turn into...

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