Pretty sure Coty owns the licence for Balenciaga fragrance and beauty.
looks like that Kering got the licenses for Balenciaga, Alexander McQueen and Bottega Veneta back from Coty already
COTY SHRUGS OFF LOST LICENSES AS KERING SETS UP OWN BEAUTY DIVISION
KEVIN ROZARIO
PUBLISHED FEBRUARY 11, 2023
Luxury giant Kering Group has hired former Estée Lauder Companies senior executive Raffaella Cornaggia in a new—and critical—role as CEO of Kering Beauté. The move accelerates expansion into a new sector for the French fashion-to-jewelry conglomerate that might have given Kering’s current beauty licensing partners, like Coty, some restless nights. Turns out the US beauty house is sleeping soundly.
Those labels are some of the best-known in fashion including Alexander McQueen, Balenciaga, Gucci, and Saint Laurent, plus jewelry houses Boucheron, Pomellato, DoDo and Qeelin. Several are already powerhouse beauty brands, developed through licensing agreements.
L’Oréal’s position seems safe. It bought YSL Beauté from PPR (now called Kering) after agreeing a licensing deal
in April 2008 “for a very, very long time” according to a L’Oréal spokesperson. Coty is on shakier ground as it has more to lose. It holds the license for Gucci—one of its pillar brands—and did for Alexander McQueen, Balenciaga and Bottega Veneta as well.
In a statement on Friday February 3, Kering said that, in Cornaggia’s new role, she would help develop beauty expertise for Alexander McQueen, Balenciaga, Bottega Veneta, Pomellato, and Qeelin, supported by a team of seasoned professionals. “The beauty category is a natural extension of the universe of these brands,” said Kering.
While Gucci was not mentioned in the Kering statement,
Coty confirmed to BeautyMatter that it had relinquished the other three, describing them as “smaller growth brands with a more limited scale and footprint”, but did not say when the terminations occurred. The brands have already been removed from Coty’s website.
As niche labels, Alexander McQueen, Balenciaga and Bottega Veneta may not have delivered the huge volumes that Gucci does for the New York-listed company. More significant could be that, in Kering’s hands, the beauty business of these brands could become significant new rivals in the fragrance or color cosmetics sectors, Balenciaga in particular.
Beauty Matter