Kering has appointed Raffaella Cornaggia as chief executive officer of Kering Beauté, which is a new position created in the company, who joins the company following a 14-year stint with Estee Lauder Cos, according to WWD.
The French luxury conglomerate created Kering Beauté, which will support Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin in the development of the category.
“I am delighted to welcome Raffaella Cornaggia, who brings us considerable experience in a segment that we see as strategically important for our houses,” Jean-François Palus, Kering group managing director, said in an official statement. “We are building this new area of expertise within our group to ensure that our brands can fulfil their potential in this category.”
Kering was reportedly in advanced talks last year to acquire Tom Ford, which was acquired by Estee Lauder Companies for a reported $2.8 billion.