Goldman Sachs appoints Global Luxury and Beauty Division head amidst sector's growth potential

Investment bank Goldman Sachs has appointed Cosmo Roe to head up its global luxury and beauty division. The appointment showcases the firm's recognition of the sector's potential for growth. With a history of involvement in major deals such as the sale of Tom Ford to Estée Lauder, Roe, who previously was a partner in the company’s consumer division, underscores his expertise in dealmaking, reported WWD.

Since joining Goldman Sachs in 2007, Roe has been actively involved in the beauty sector, overseeing significant transactions such as Creed's sale to Kering, WWD said. This shift highlights Goldman's commitment to expanding its footprint in luxury and beauty dealmaking.

The resurgence of beauty IPOs, including those led by Goldman Sachs, reflects increased investor interest in the sector, signaling broader accessibility to investment opportunities, reported Yahoo Finance. Despite challenges in finding suitable targets, Roe sees potential for innovation and creativity in M&A within both the beauty and luxury sectors.

Reports of an imminent sale of Net-a-Porter have been swirling this week, fueled by indications that Richemont has finally secured a buyer to divest the once-dominant luxury e-commerce platform, along with its subsidiary Yoox, both integral parts of its YNAP division. These rumours come amid a broader strategic shift in the luxury retail landscape, with companies seeking to streamline operations and focus on core businesses in response to evolving consumer preferences and market dynamics.