Luxury Headlines – 10/06/2024
Luxury Headlines – 10/06/2024
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Cartier Presents Newest High Jewelry Collection in Vienna
Richemont-owned Cartier is hosting an exclusive event for 400 clients at Vienna's Kursalon Hübner hall to unveil the "Nature Sauvage “collection. The assortment features 87 pieces crafted with rock crystal and rare diamonds. Cartier will also dedicate a room to showcase archive pieces and bespoke options. A second presentation, displaying the full 200-piece collection, is planned for Shanghai later this year. President and CEO Cyrille Vigneron, personally reviews and approves each sketch before production begins, resulting in a total of 50,000 hours of work for the Nature Sauvage collection.
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Estée Lauder Finalizes DECIEM Acquisition
American beauty group Estée Lauder has acquired Canadian-based beauty brand DECIEM, in a deal valued at $1.7 billion. This move comes after Estée Lauder initially acquired shares in DECIEM in 2017 and then became a majority shareholder in 2021. The deal to acquire the remaining shares was completed on May 31st, 2024, at an estimated $860 million. Founded in 2013, DECIEM owns five in-house laboratories and popular beauty brands, including The Ordinary, the innovative skincare brand NIOD, and the fragrance brand AVESTAN. The Ordinary brand is now part of the Estée Lauder Group portfolio.
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Virginie Viard Departs Chanel
After 5 years as an artistic director and 30 years at Chanel, Virginie Viard bids farewell to the French Luxury Brand. Viard made an impact with a vast portfolio of collaborations and a creative spirit that expanded Chanel’s following and legacy. Viard will deliver the haute couture Autumn/Winter 2024/25 as scheduled on 25 June at the Opéra Garnier.
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Kering Beauté Acquires Minority Stake in French Fragrance Brand Matière Première
As part of its strategy to expand its beauty division, Kering Beauté, has acquired a minority stake in French Niche fragrance brand Matière Première, after a second funding round in April. Founded in 2019, Matière Première is available in 50 countries and plans to open 20 independent stores in G7 Nations and the Middle East. In addition, the French brand will use the capital to expand their e-commerce platform and their Paris-based team.
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LVMH-Backed Fenty Beauty Empire Expands to Hair Care
Following its success in skincare, Fenty Beauty, a collaboration between LVMH and Rihanna, will expand into the hair care segment. The hair care line, catering to a variety of hair textures, will channel the same message of inclusivity that has been central to the beauty brand. The hair care range will be available on June 13, 2024.
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Sofitel Celebrates 60 Years with New York Rejuvenation Project
Sofitel New York will undergo a full renovation project with a modern design enhancing its rich heritage, by merging the Parisian Art Deco and Manhattan’s Art Décoratif. In addition, Sofitel New York has appointed Dieter Schmitz as the new general manager, whose experience will complement the hotel's rejuvenation process. The renovation process coincides with Sofitel’s 60th anniversary. Currently, 20% of the Sofitel global portfolio is undergoing enhancement projects. This year, Sofitel will add 5 new hotels worldwide with two confirmed locations in Jaipur, India, and Prague, Czech Republic.
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