The deal has come to fruition. The Estée Lauder Companies Inc. and Balmain have entered into a license agreement to collaboratively develop, produce, and distribute a line of beauty products. Balmain Beauty isexpected to launch in fall 2024, with the “goal to transform the luxury and couture beauty world through exceptional design, singular craftsmanship, and an unyielding commitment to innovation,” Estee Lauder Companies announced early this morning.

Pierre Balmain launched his brand in 1945, ushering in his “New French Style.”  Since 2011, Creative Director Olivier Rousteing has been building upon Balmain’s legacy, with the house’s rich archives providing key inspirations and the legendary savoir-faire of Balmain’s atelier ensuring the success of Rousteing’s distinctive “Renewed French Style.”

“For over ten years, my Balmain team and I have been pushing the boundaries of what is possible in fashion,” notes Rousteing. “We’ve been determined to reflect the way that today’s diverse generation wishes to live and dress. So, obviously, there was no way that we were going to expand into beauty without ensuring that we had found the partner who understood and shared our outlook. 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. Knowing that — and knowing that Estée Lauder is the paragon of excellence — well, I can’t wait to start working with them.”

Jesel Promoted

Guillaume Jesel will be appointed president, global brands, Tom Ford Beauty, Balmain Beauty and luxury business development, effective immediately.

“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,” said Jesel.

Jesel will report to Jane Hertzmark Hudis, executive group president and also to Tracey T. Travis, executive vice president and CFO in her role of overseeing the company’s mergers and acquisitions strategy, for Guillaume’s luxury business development responsibilities.

Jesel will work closely with the leadership of Balmain to translate its visionary creative into a winning luxury beauty brand globally. In addition to his newly expanded brand leadership responsibilities, Guillaume will continue to play a key role in prospective acquisitions and investment strategy for ELC’s luxury business development.

Jesel’s elevation to president, global brands, recognizes his tremendous talent in building coveted brands and hero franchises. With Tom Ford Beauty for the past eight years, he spearheaded iconic innovation and strategically expanded the brand’s reach around the world, firmly establishing the brand as a powerhouse in luxury beauty. Most recently as global brand president since July 2016, Jesel led the brand to achieve strong net sales growth on a compound annual basis and significantly improve ranking in each of global prestige fragrance and makeup.

A global general manager for Tom Ford Beauty who will report to Jesel, will be announced at a later date.

Reports regarding ELC's plans to create a line with the luxury fashion house were circulating earlier this month.