Yahoo Finance Kering Beauté Names CFO
PARIS – Kering Beauté has named Stéphane Perrault its chief financial officer, the executive revealed on LinkedIn.
Prior to starting in the position in June, he worked as group CFO at Maison Ferrand, a French maker of fine spirits, between October 2022 and June 2024.
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Perrault also served as CFO at La Bouche Rouge, the eco-luxury beauty brand, and at Arvato Supply Chain Solutions, on a freelance basis. From 2016 to 2019, he was CFO Europe, Middle East and Africa and global CFO fragrances at Shiseido.
Kering Beauté has been building up its executive team. As previously reported, in late April it named Alexandre Choueiri president and chief operating officer of Kering Beauté Americas.
Beauty remains a bright spot as Kering weathers a challenging luxury market. As reported, the company saw overall sales slide — and predicted double-digit profit drops — in the first quarter. However, Kering eyewear and corporate, which houses Kering Beauté, grew 9 percent in comparable sales in the same time period.
Prior to Choueiri’s nomination, at Kering’s annual general meeting in April in Paris, chairman and chief executive officer François-Henri Pinault said Kering Beauté employed 27 people, led by Raffaella Cornaggia, global CEO of the division.
He said the group’s priority was to bring back in-house its beauty licenses, which it has already done for Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin.
As previously reported, Kering plans to launch a high-end fragrance range for Bottega Veneta next fall, to be followed by Balenciaga and McQueen perfumes in 2025.
Earlier this month Kering Beauté made a minority investment in Matière Première as the niche fragrance brand enters a new stage of its development. One year prior, in June 2023, Kering Beauté acquired niche fragrance brand Creed.
Kering in early February 2023 said it had begun taking its beauty business back in-house, and that it had appointed Cornaggia to run it.
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