Retail Beauty recently reported that The Estée Lauder Companies (ELC) were in talks to acquire the beauty and fragrance license of Balmain, the storied French fashion house.
The deal has now been done and adds another high fashion name to Lauder’s stable alongside Tom Ford.
The collaboration commits both parties to the development, production and distribution of luxury beauty products under the Balmain banner. The first launch is scheduled for the last quarter of 2024.
In a joint statement, the two companies said that their goal is to “transform the luxury and couture beauty world”.
Lauder executive Guillaume Jesel has been appointed President of Global Brands and will oversee Tom Ford Beauty and Balmain Beauty.
“We’ve been talking to them for almost a year. It’s been a very natural conversation between the two companies,” he adds.
“We shared a common interest between staying true to our heritage and at the same time seeing into the future.”
Nathalie Berger Duquene, former vice-president and General Manager of Tom Ford Beauty, has been promoted to senior vice president and Global General Manager for Balmain Beauty. She was also the managing director of L’Oréal’s perfume business in France before shifting to Lauder in 2019.
Olivier Rousteing, Balmain’s respected Creative Director, will work closely with ELC on the new tie-up.
Rousteing is currently undergoing training at a noted Parisian perfumery school. Balmain, founded in 1945, has a strong fragrance heritage. Its global bestseller, Vent Vert, was launched in 1947 and other landmark juices include Monsieur Balmain, Jolie Madame, Ivoire, Ambre Gris and Carbone.
The Balmain beauty business has been on ice since 2017, when its licensing agreement with Inter Parfums was ended after only five years.
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