DECRYPTION – Fifteen years after selling Yves Saint Laurent Beauté to L’Oréal, the world number two in luxury is preparing a 180 degree turn.
On the rows, a few weeks ago, to buy Tom Ford, the label created by the ex-artistic director star of Gucci, Kering gave up in the home straight, finding the price too high. And thus left Estée Lauder, who operated under license the brand Tom Ford for perfumes, to win the bet, for 2.3 billion dollars. “This would have allowed Kering to accelerate its return to perfumessays someone close to the case. But the group does not need it to make its comeback. The luxury giant, notably owner of Gucci, Saint Laurent, Bottega Veneta and Balenciaga, is indeed ready for a major new strategic shift.
After its diversification into luxury, which began in 1999 with the simultaneous acquisition of Gucci, Yves Saint Laurent and Yves Saint Laurent Beauté, the group, which was then called PPR, sought to beef up its perfume branch. But the steps taken, with the help of lawyers, to recover the Gucci perfume license, held by Procter & Gamble…
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