Hermès Will Be Launching a Luxury Skincare & Cosmetics Line
Here’s everything worth knowing about the upcoming beauty range.
Hermès has officially announced it has its eyes set on launching a skincare and cosmetics range in 2020. According to Business of Fashion, the collections are being developed in-house, and will be manufactured by third-party suppliers over in France and Italy.
BoF also reports that this business move creates a new challenge for the legacy brand which saw sales grow 10.4-percent in 2018 to approximately €6 billion EUR (approx. $6.7 billion USD). In an official statement released on Wednesday, Hermès chief executive Axel Dumas shared his thoughts on the cosmetics line:
“Obviously, we hope to have the biggest scope possible. We are trying to do it humbly and cautiously, because it’s a big market that’s already full of strong players, and therefore we have to find our place in it.”
This could in fact be a step in the right direction for Hermès since the brand is widely respected by consumers. In total, the global beauty market makes up approximately $532 billion USD, reported by Bloomberg. Notably, entering the luxury beauty market could appear to be a trend as Kering’s fashion house Gucci declared in February that it would be preparing to enter the beauty business, as announced by Kering chief executive François Henri Pinault.
Additionally, Dumas also touched on the fact that Hermès needs three pulls to make it unique in the market: skincare, makeup and fragrance. According to reports gathered by BoF, for the skincare and cosmetics products, Hermès will use plastic-free packaging.
Dumas later breaks down what the rollout for the ranges will include:
“It’s quite exciting: It’s a new activity, with all the risks that involves, so we will deploy it progressively, initially in our own stores mainly, in a limited distribution so that we can learn.”
Stay tuned here as additional news becomes available.
- Business of Fashion