Kering frustrated with slow progress in cosmetics development

Kering frustrated with slow progress in cosmetics development

Gucci-owner Kering's chairman Francois-Henri Pinault said on Wednesday the company was frustrated with the slow pace of progress in cosmetics development with license holder Coty .

The logo of Kering is seen during the company's 2015 annual results presentation in Paris
FILE PHOTO: The logo of Kering is seen during the company's 2015 annual results presentation in Paris, France, February 19, 2016. REUTERS/Charles Platiau

PARIS: Gucci-owner Kering's chairman Francois-Henri Pinault said on Wednesday the company was frustrated with the slow pace of progress in cosmetics development with license holder Coty .

Kering's Gucci brand has been expanding its beauty ranges and recently branched into makeup and launched more perfumes, in partnership with license holder Coty.

"The potential is enormous," Pinault told a news conference. "We're pretty frustrated with the speed at which that potential is being exploited."

Some other Kering brands such as Saint Laurent have licenses with L'Oreal .

(Reporting by Sarah White; editing by Louise Heavens)

Source: Reuters

Bookmark