Luxury goods groups compete to enter the cosmetics market

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Luxury goods groups compete to enter the cosmetics market

Fashion and luxury product groups are intensifying their efforts to break into the booming cosmetics market, which opens promising opportunities for profit. Kering has created a beauty department, while “LVMH” has hired an official from “L'Oreal”, and “Prada” has launched a specialized website. In early February, the “Kering” luxury goods group, which includes several fashion house companies, most notably “Gucci”, “Saint Laurent” and “Bottega Ve…