Kering enters the booming beauty business with Raffaella Cornaggia leading as CEO

As brand revival becomes more challenging in this dynamic business world, Kering diversifies with its new beauty venture.

February 7, 2023: Luxury conglomerate Kering is ready to take on and dominate the thriving beauty industry as it establishes Kering Beauté. The beauty sector continues to redefine and thrive with the pandemic contributing in its uptick. It's no surprise then that Kering aspires to create a beauty division. With that, Kering announces cosmetic industry veteran Raffaella Cornaggia as the Chief Executive Officer of Kering Beauté.

Kering Beauty
As a member of the Group’s Executive Committee, she will report to Jean-François Palus, Group Managing Director of Kering, who expressed his delight to welcome Ms. Cornaggia as she “brings us considerable experience in a segment that we see as strategically important for our Houses.”
Having previously worked with L’Oréal, Chanel and Estée Lauder, Ms. Cornaggia brings in vast and varied experience. In her new role, supported by a team of seasoned professionals, she will help develop an expertise in the Beauty category for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin. Kering Beauté will enable the Group to support these brands in the development of the beauty category, which is a natural extension of their universe.
Mr. Palus adds, “We are building this new area of expertise within our Group to ensure that our brands can fulfill their potential in this category.”
In a nutshell, the beauty industry has seen a clear demand towards simpler, cleaner and more effective products. While the cosmetic industry did see declines during the pandemic, it will now see a rise as people step out to be seen. With a developed Eyewear division under its belt, establishing the beauty division is heralded to bring Kering closer to its goal of becoming an even larger player in the luxury industry.

- By Pritha Debroy

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