Coty and Etro Embark on New License Agreement
February 19 2024 - 11:00PM
Business Wire
Coty Signs New Fragrance and Home Scenting
Partnership with Etro Italian Luxury Fashion House
Agreement Fuels Further Momentum in Coty’s
Portfolio Growth
Today, Coty Inc. (NYSE: COTY) (Paris: COTY), one of the world’s
largest beauty companies with a portfolio of iconic brands across
fragrance, color cosmetics, skin and body care, announces that it
has signed a new agreement with luxury Italian fashion house, Etro,
to produce and distribute its signature fragrance lines and home
scent collections beyond 2040. Coty and Etro will work together to
explore new categories and innovations to grow the brand’s beauty
portfolio.
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This deal establishes a long-term partnership between Coty and
Etro, one that is anchored in the companies’ shared values of
innovation, exploration, community, and creativity. The new
partnership further reinforces Coty’s reputation as the go-to
partner for Fashion Houses and global brands looking to create or
elevate their beauty portfolios.
Sue Nabi, Coty’s CEO, said: “We are delighted to announce our
new alliance with Etro, an Italian luxury fashion house that is
renowned for its timeless designs and relentless focus on quality.
Etro is an iconic brand with a long-standing heritage of excellence
that is reflected across every facet of its business. This
agreement further underscores Coty’s focus on fashion driven
licenses with significant multi category potential which resonate
with consumers in our key markets. We are excited to collaborate
with Etro, building on the brand’s existing beauty offering and
bringing its unique brand identity to life through new categories
and launches.”
Fabrizio Cardinali, Etro’s CEO, added: “This partnership with
Coty marks another invigorating chapter for Etro as we continue to
bolster the evolution of our beauty portfolio. The collaboration
will enable us to leverage synergies between our companies while
taking advantage of Coty’s expertise and industry leading
capabilities. We are looking forward to working with the Coty team
to explore ways of developing our beauty presence in a way which is
authentic to Etro, further strengthening our ability to meet the
dynamic, and ever-evolving demands of our consumer across different
markets.”
Coty will assume the development, production, and distribution
of all Etro perfumes and fragrances. Etro’s signature fragrance
lines, from Shantung to Paisley, are symbolic of Etro’s passion for
fusing iconic aesthetic beauty with exquisite designs.
This partnership will cement Etro’s position across established
markets and categories, while actively driving expansion into new
opportunities and segments by leveraging Coty’s expertise and
global distribution footprint.
About Coty Inc. Founded in Paris in 1904, Coty is one of
the world’s largest beauty companies with a portfolio of iconic
brands across fragrance, color cosmetics, and skin and body care.
We serve consumers around the world, selling prestige and mass
market products in more than 125 countries and territories. Coty
and our brands empower people to express themselves freely,
creating their own visions of beauty; and we are committed to
protecting the planet. Learn more at coty.com or on LinkedIn and
Instagram.
About Etro
Founded in Milan by Gerolamo Etro in 1968, Etro is synonymous
with craftsmanship and creativity with a full range of Men’s and
Women’s Ready-to-Wear, Accessories, Home, Fragrances and, starting
in 2023, Kids and Eyewear collections.
After a long history under the leadership of the Etro family,
creators of a unique iconography and DNA, in July 2021 L Catterton
acquired the majority share of the company. Following the
acquisition, in June 2022, Marco De Vincenzo was appointed as
Creative Director for all of the Maison’s lines.
De Vincenzo’s vision is a celebration of the essence of
individuality with full respect to the brand’s roots and the
traditions of Made in Italy. Etro’s presence is driven by the
brand’s retail stores consisting of more than 130 locations in over
20 countries across Europe, North America, Middle East and APAC
with a prestigious positioning in the symbolic cities of luxury
shopping such as Milan, London, Paris, Dubai, New York, Beijing,
and Tokyo.
Etro’s distribution network also includes omnichannel, travel
retail, and selected global wholesale retailers.
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version on businesswire.com: https://www.businesswire.com/news/home/20240219544270/en/
Antonia Werther Antonia_werther@cotyinc.com
Carlo Mengucci Carlo.mengucci@etro.com
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