P&G Plans To Move Into Luxury Beauty Market
P&G, the makers of drugstore beauty favourites including CoverGirl and Olay, are planning a big step into the luxury beauty market this year. The company has created a new branch, P&G Prestige, to manage their luxury beauty brands and take over the market.
The current brands that fall under the new Prestige name include skin care lines SK-II, The Art of Shaving, Zirh, and DDF dermatological skin care, Frédéric Fekkai hair care, Dolce & Gabbana makeup and fragrances from Dolce & Gabbana, Gucci and Lacoste. P&G Prestige plans to ensure that beauty lovers all over the world know more about their high-end beauty brands, meaning we will probably be seeing a lot more from these companies in the coming months.
According to WWD, there are also rumours that P&G are looking at purchasing Estee Lauder Cosmetics to expand on their luxury makeup offerings. The company hasn’t commented. They say while they do want to expand into luxury and prestigous (items costing over $500) brands, they want to be selective and exclusive in what they offer customers.
This could be an interesting year for the beauty industry.
Free to join! Get the hottest fashion, beauty and celebrity news, enter exclusive subscriber giveaways and be the first to receive the full digital version of REAL STYLE magazine every month.