Carol Hamilton has been promoted from president to group president of L’Oréal Luxe USA in a realignment of the division’s management structure.
Xavier Vey, formerly president of the Lancôme division, will become president and chief operating officer of Luxe, reporting to Hamilton. His previous post at Lancôme USA is being filled by Suriya Parksuwan, who joined L’Oréal USA from Remy Cointreau U.S., where he was chief executive officer.
Hamilton’s and Vey’s promotions are effective on Jan. 1 and Parksuwan’s goes into effect immediately.
She cited the evolution of the luxury business in terms of “fragmentation and accelerated growth” as reasons for the restructuring. The goal is to make the management structure “more appropriate” in terms of being “more agile and on-point for the future.”
Noting that the luxury division’s business has doubled in size since 2009, Hamilton said she will be focusing on the global development of American beauty brands in her stable, which include Kiehl’s, Urban Decay and the fragrance license of Proenza Schouler, which has a women’s fragrance in the works. Hamilton said she will be spending more time oversees, while working with L’Oréal’s Research and Innovation Division. In addition, she will be participating in a global L’Oréal Luxe committee, providing strategy from an American point of view.
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Hamilton also will be participating in the hunt for new acquisitions, including more licensing deals, and oversee their integration into company once they have been bought. She will continue to work with the individual brands in terms of developing business plans. “I am the chief strategy officer for L’Oréal Luxe USA,” Hamilton noted.
As president and coo, Vey will have the brand heads reporting to him and he will also be responsible for digital development and for maintaining retailer relationships with the division.