# Kering recruits Estee Lauder exec for push into cosmetics
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-02-03
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Kering Enters Cosmetics Business With Esteemed Estee Lauder
Meta Description: French luxury goods group Kering recruits Raffaella Cornaggia to lead new push into beauty segment, aiming to build brand presence in cosmetics.
URL: https://financedigest.com/kering-recruits-estee-lauder-exec-for-push-into-cosmeticshtml

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PARIS (Reuters) – French luxury goods group Kering said Friday it was entering the cosmetics business, with the announcement that it has recruited seasoned Estee Lauder executive Raffaella Cornaggia to head the push into the new segement.

“We are building this new area of expertise within our Group to ensure that our brands can fulfill their potential in this category,” said group managing director Jean-Francois Palus in a statement.

Cornaggia has been appointed chief executive officer of Kering Beaute, the statement said.

Developing brand presence in cosmetics was [“strategically important”](https://www.financedigest.com/the-importance-of-strategic-human-resource-management.html "The Importance of Strategic Human Resource Management"), he said.

The move echoes Kering’s development of its eyewear division, an [activity it began building](https://www.financedigest.com/making-the-case-for-using-team-building-activities.html "Making the case for using team building activities") in-house in 2014, to make eyewear for its high end fashion labels.

Luxury groups, which have been [riding a strong wave](https://www.financedigest.com/riding-recruitment-wave-2.html "Riding the Recruitment Wave") of post-pandemic demand, have been tightening their grip on production.

Kering said Friday it would [develop beauty products](https://www.financedigest.com/market-realist-snags-motley-fool-analyst-brings-on-product-development-guru.html "Market Realist Snags Motley Fool Analyst, Brings on Product Development Guru") for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin.

(Reporting by Mimosa Spencer; Editing by Simon Cameron-Moore)


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