To receive the Vogue Business newsletter, sign up here.
Balmain is launching a beauty line through a new license with the Estée Lauder Companies.
The French luxury house will present a collection of “innovative” beauty products, with a focus on diversity, which Estée Lauder will help develop, produce and sell. The goal of the collaboration is “to transform the world of luxury beauty and haute couture through exceptional design, singular craftsmanship and an unwavering commitment to innovation,” Estée Lauder said in a statement. The line is expected to launch in the fall of 2024.
Creative director Olivier Rousteing, who has held the position since 2011, will oversee the beauty line. “There was no way to expand into beauty without making sure we found the partner who understood and shared our perspective,” Rousteing said in a statement. “From the beginning, the team at The Estée Lauder Companies made it very clear that they support Balmain’s distinctive vision, as well as our goal of changing the global paradigm of luxury beauty.”
The specific products included in the Balmain Beauty range have not yet been announced. The deal will be the brand’s first foray into beauty, although it already sells hair care products and accessories under Balmain Paris Hair Couture, with retail partners including Net-a-Porter and Farfetch.
The Estée Lauder Companies, owner of makeup, beauty and fragrance brands including Tom Ford Beauty, Mac, Bobbi Brown, La Mer, Clinique, Jo Malone and Aveda, is betting big on prestige beauty. In its most recent annual report, the US beauty giant said it expects the category to “produce strong organic sales growth” by fiscal 2023, and will use that period to invest in its business. For the past two months, Estée Lauder has reportedly been in talks to buy Tom Ford in a deal that values the fashion brand at least $3 billion, according to the Wall Street Journal.
Guillaume Jesel was named president of global brands, Tom Ford Beauty, Balmain Beauty and luxury business development on Monday. “Balmain and Olivier Rousteing are visionary forces in global fashion,” Jesel said in a statement. “We look forward to working with them to expand the Balmain universe and carve out a new space in luxury beauty that clearly reflects the strong, inclusive and bold spirit of the brand.”
Comments, questions or comments? Email us at [email protected].
More from this author:
Britain to reintroduce duty-free shopping to benefit local luxury
Burberry CFO and COO Julie Brown resigns
Can a Rwandan Manufacturing Plant Drive the ‘Made in Africa’ Movement?
Source: news.google.com