Luxury fashion brands have realised the value in building out beauty empires beyond fragrances, sparking a complete shift in strategy amongst many global mega brands that will likely trigger more acquisitions in the near future, say experts.
In October 2023, global luxury titan Kering – the group behind Gucci, Saint Laurent, Balenciaga and Alexander McQueen, among others – closed its acquisition of luxury fragrance house Creed; a deal considered significant in both fashion and beauty because...