With this new licensing agreement, the companies will work together to develop, produce and distribute the product line called Balmain Beauty, according to a Monday (Sept. 26) press release.
As they develop the products, which are to launch in fall 2024, they will focus on design, craftsmanship, innovation and diversity, the release stated.
“From the very beginning, the team at The Estée Lauder Companies made it very clear that they support Balmain’s distinctive vision, as well as our goal of disrupting the global luxury beauty paradigm,” Balmain Creative Director Olivier Rousteing said in the release. “Knowing that — and knowing that Estée Lauder is the paragon of excellence — well, I can’t wait to start working with them.”
The collaboration will pair Balmain’s background in distinctive and inclusive fashion with Estée Lauder’s history of focusing on prestige makeup, skin care, fragrance and hair care, according to the release.
Guillaume Jesel, whose appointment as president of global brands for Tom Ford Beauty, Balmain Beauty and luxury business development was announced along with this partnership, said in the release: “Balmain and Olivier Rousteing are visionary forces in global fashion. We look forward to working with them to expand the Balmain universe and forge a new space in luxury beauty that clearly reflects the strong, inclusive and fearless spirit of the brand.”
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Estée Lauder announced Aug. 18 during its quarterly earnings call that its net sales were up 9% year over year, largely thanks to a resurgence in brick-and-mortar shopping.
Read more: Estée Lauder Will Pursue Omnichannel Opportunities Amid Volatility
CEO Fabrizio Freda said during the company’s earnings call that brick-and-mortar and online operations both grew “as we capitalized on reopening, extended our consumer reach in high-growth channels and amplified our omnichannel capabilities.”
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