The French fashion brand Lacoste is changing its perfume license partner. On Wednesday, the company announced the conclusion of a corresponding agreement with Interparfums SA.
The Paris-based subsidiary of the US group Inter Parfums Inc. will receive the worldwide exclusive license for the development, production and marketing of the Lacoste fragrance lines from January 1, 2024. The partnership has a term of 15 years, and Interparfums will pay an entry price of 90 million euros.
Shortly before, Lacoste and the previous license partner Coty Inc. had announced the end of their six-year collaboration at the end of 2023. According to a statement, both companies had decided “by mutual agreement” that Lacoste would buy back the license.
The separation is in the interest of both companies and enables the US group to “advance its strategic priorities,” said Coty CEO Sue Nabi in a statement. Lacoste boss Thierry Guibert emphasized that the label wanted to “take a new approach to continue growth in a market where Lacoste still has great potential”.