Coty, the leading fragrance and toiletries manufacturer, has announced that that it has entered into an agreement to acquire the exclusive long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare.
“This strategic partnership combines Burberry’s British heritage of innovation, craftsmanship and design with Coty’s expertise and leadership in luxury beauty products”, the company said in a statement.
Under the agreement, Coty said it would work in partnership with Burberry to develop, manufacture and distribute the full range of Burberry Beauty products globally. The product range is set to be sold in leading luxury beauty retailers as well as in Burberry stores and digital channels.
Commenting on the move, Coty CEO Camillo Pane said: “We are proud to welcome Burberry as a strategic partner of Coty. We look forward to growing further Burberry’s luxury beauty products using Coty’s world-class expertise in developing and bringing to market beauty brands”.
The Burberry Beauty business will be managed within Coty’s Luxury division, which develops, produces, markets and distributes globally a range of fashion house fragrances including Gucci, Marc Jacobs, Hugo Boss, Calvin Klein, Alexander McQueen, Bottega Veneta and Balenciaga, as well as cosmetics and skin care under the Philosophy, Lancaster and Gucci brands.