Popular international fashion brand Dolce and Gabbana is setting aside the sum of €1 billion for its new beauty business.
The fashion brand is in the process of establishing a new business, Dolce & Gabbana Beauty, and by January 2023 will assume 100 percent control of the manufacturing, sales and distribution of its fragrance and makeup products — a €1 billion business, according to the company.
The new business will be based in Milan under the leadership of Alfonso Dolce, brother of Domenico Dolce and president and CEO of Dolce & Gabbana, and Gianluca Toniolo, who joins Dolce & Gabbana Beauty as operating CEO.
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For Dolce & Gabbana, the move is an “important step” in the ongoing development of the brand’s “assets, skills and responsibilities”, Alfonso Dolce tells Vogue Business. “Dolce & Gabbana is a reflection of the cultural richness and beauty of Italy itself. Today we are pleased to announce this new phase in our growth as a proudly independent Italian house.”
“Dolce & Gabbana has a sizable business in the beauty sector because they started many years ago and some of their products have had evergreen success,” says Mario Ortelli, managing director of Ortelli & Co. While there isn’t a one-size-fits-all recipe for success in the beauty business, Orelli notes that Dolce & Gabbana’s strategy “goes in the different direction of most luxury brands [with beauty offerings], which have chosen to externalise rather than internalise”.
Source: voguebusiness.com
