They really need the beauty license back… and yes, this whole understated approach with YSL might make it harder for them to reach that 5 billion thing. Their Bags while nice have that more of the same feeling. Maybe they’ll focus on it soon.
When Kering won over the bid for Gucci Group (then owner of YSL RTW and Beauty); they outbid LVMH but were in dire need of fresh cash so immediately sold the YSL Beauty to L'Oreal; now it's Kering's dream to buy back the Beauty but L'Oreal has continuously refuse (that's part of the reason Hedi left, he wanted full artistic direction of the Beauty as long as the RTW). AV and Kering are still trying but, the more they offer, the higher L'Oreal raises its asking prices.
Same think for Haute Couture, the company and the HC rights still belong to YSL Pierre Bergé heir, not Kering, and the archives belong to an independant foundation, which recently has kicked off all Kering executives and strawmen with the exception of Francesca Bellettini the CEO. And the Foundation (which have ten of thousand of outfits and the most incredible pieces) thinks very poorly of AV's talents, skills or aesthetics (I have heard "colorblind designer with no knowledge of women except streat workers of Brussels and LA").
A couple of seasons ago, the collection was dedicated to Paloma Picasso and she was due to appear in in the show and then the campaign but she bailed out of them both, speaking of the lack of of talent of AV; "I have already all the top-notch original HC clothes, why on Earth would I settle for far less ??".
I fully agree that an integrated Saint-Laurent, with RTW, Beauty, and more than 40 years of archives by the founder itself, plus Elbaz and Slimane, could be a direct competitors to Dior or even, Chanel, but with another designer. After all, Dior has limited history and archives (Christian, Galliano, certainly not Bohan, Ferré, GMC or RF), some of them quite dated and not very innovative.