The renowned French luxury brand Hermes has decided to enter the beauty world. The brand plans to launch skincare and cosmetics ranges in 2020. The collections are being developed in-house but will be manufactured by third-party suppliers, mainly in France and Italy. This comes as a collection for the brand as they will be entering a market which is huge with full of competitive players and have to find a place in the market.
Many luxury brands have already entered the beauty world and offer skincare and cosmetics it will be a challenge to see how the product will be able to cement its place in the market, it was reported that even Gucci will enter the market soon. Like Gucci, Hermès already competes in the fragrance segment.
Many of Hermès’s rivals outsource their beauty businesses to giants in that industry. Yves Saint Laurent’s beauty business, which is licensed to L’Oréal, generates sales of over €1 billion annually. perfume business grew 9 percent in 2018.
