The US cosmetics group Coty Inc. and the Italian fashion house Etro have entered into a long-term licensing partnership.
As part of the agreement, Coty will develop, produce and distribute Etro brand perfumes and home fragrances “beyond 2040,” the company said on Tuesday. Etro’s existing fragrance lines will therefore be continued, and both partners also plan to “explore new categories and innovations together”.
The group, which holds cosmetics and perfume licenses for well-known brands such as Hugo Boss, Adidas, Marc Jacobs, Burberry, Gucci, Jil Sander and Marni, wants to further strengthen its market position through the partnership with Etro. “This agreement underscores Coty’s focus on fashion-focused licenses with significant potential across multiple categories that resonate with consumers in our key markets,” Coty CEO Sue Nabi said in a statement.