Estée Lauder Collaborates with BALMAIN to Launches New Beauty Products
- 925267554
- Sep 27, 2022
- 2 min read
BALMAIN may foster new growth points of Estée Lauder and further enrich its high-end brands.
On September 26, Estée Lauder announced that it has signed a licensing agreement with French fashion brand BALMAIN to cooperate in the development, production, and distribution of a series of beauty products, BALMAIN BEAUTY.
It is reported that Estée Lauder will be responsible for production, quality control, product research and development, publicity, and distribution, while BALMAIN will be responsible for packaging design, collecting money, and reckoning. The first product in the series is expected to launch in the autumn of 2024.
Public information showed that BALMAIN was founded by Pierre Balmain in 1945 and is a French clothing brand. BALMAIN launched its first perfume, Vent Vert in 1947, and subsequently launched many perfumes such as Ambre Gri and Carbone. In 2016, the company was purchased by Mayhoola Investments Fund for 500 million Euros and now has 357 international points of sale.
In 2012, BALMAIN signed a 12-year perfume franchise agreement with perfume production giant Interparfums SA, which was terminated early in 2017. Inter Parfums also stopped selling BALMAIN brand perfume products in March 2017.
In addition, BALMAIN has collaborated with L'Oreal to launch co-branded beauty products in 2017 and has since been selling hair care products under the Balmain Hair Couture in stores such as Net-a-Porter, Neiman Marcus, and Saks Fifth Avenue. The BALMAIN beauty business has been largely dormant since 2017. This collaboration with Estée Lauder is the new start of the beauty business of BALMAIN after a long time.
Olivier Rousteing, the creative director of BALMAIN, said that BALMAIN has always strived to reflect the way of living and dressing that today’s diverse generation wants. Estée Lauder has always made it clear that it supports BALMAIN’s unique vision and its goal of disrupting the global luxury beauty paradigm.
Guillaume Jesel will be named as the Global Brand President of TOM FORD BEAUTY, BALMAIN BEAUTY, and Estee Lauder Luxury Business Development Department. Jesel said that BALMAIN and Olivier Rousteing are visionary forces in the global fashion industry, and Estée Lauder also hopes to expand the world of BALMAIN and help it create a new space for luxury beauty.
Estée Lauder Q4 FY 2022 (April-June 2022) report shows that Estée Lauder’s net sales in the fourth quarter of the fiscal year 2022 were US$3.56 billion, a year-on-year decrease of 10%; the net profit was US$50 million, down 95% year-on-year. Estee Lauder indicated in its fiscal report that Tom Ford Beauty promoted the fragrance business and made it soar by 30%.
Previous news reported that Tom Ford offered for sale. Insiders showed that Kering, Gucci’s parent company, was one of the most likely buyers. Therefore, some analysts said that Estée Lauder began to look at other brands with potential in the beauty field. In the field of luxury fashion, BALMAIN is undoubtedly a brand that meets the needs of Estee Lauder Companies Inc.
Previously, some insiders predicted that if the two parties reach cooperation,Estée Lauder will realize the branding of the BALMAIN beauty line and undergo a qualitative change. Additionally, BALMAIN can bring new performance growth points toEstée Lauder and further enrich its high-end brands.
留言