NEW YORK -- Coty Inc. has announced 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.
|Coty to Acquire Long-term License Rights for Burberry
Luxury Fragrances & Cosmetics
Production & Distribution of Beauty Products
Under the agreement, Coty will develop, manufacture and distribute the full range of Burberry Beauty products globally.
Camillo Pane, CEO Coty, 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.”
Edgar Huber, President Coty Luxury, added:
“Burberry is an iconic luxury brand. It fits perfectly with Coty Luxury’s portfolio, which includes contemporary and globally relevant prestige beauty brands. We are uniquely positioned to develop Burberry Beauty to the next level. This is another significant step in building Coty’s Luxury division.”
Commenting on the strategic partnership, Christopher Bailey, Chief Creative and Chief Executive Officer, Burberry, said:
“We are delighted to partner with Coty, a world leader in luxury fragrance and make-up. Working with a global partner of Coty’s scale and expertise will help drive the next phase of Burberry Beauty’s development and position this business for growth.”
- The Burberry Beauty business will be managed within Coty’s Luxury division, which is one of the world leaders in prestige fragrance with a growing presence in prestige cosmetics and skincare.
- Both Coty and Burberry share strong heritages, which date back to 1856 for Burberry and 1904 for Coty. Both are renowned for innovation in their fields.
- Coty and Burberry will work in partnership on delivering best-in-class creative executions and leverage Coty’s global capabilities in beauty strategy, innovation, supply-chain and go-to-market.
- Burberry beauty products will be sold in leading luxury beauty retailers globally as well as in Burberry stores and digital channels.
In FY 2015/16 Burberry Beauty revenue was £203M, as disclosed in Burberry’s annual results. Coty will pay a cash consideration of £130M for the long-term exclusive global license.
Coty Inc. is one of the world’s largest beauty companies with approximately $9 billion in revenue, with a purpose to celebrate and liberate the diversity of consumers’ beauty. Its strong entrepreneurial heritage has created an iconic portfolio of leading beauty brands. Part of the S&P 500, Coty is the global leader in fragrance, a strong number two in professional salon hair color & styling, and number three in color cosmetics.
Established in 1856, Burberry is a global British luxury brand with a heritage of innovation, craftsmanship and design. The Burberry business comprises 5 divisions: mens, womens, childrens, accessories and beauty. Burberry has launched award-winning luxury fragrances such as My Burberry and Mr Burberry, redeveloped and relaunched make-up, and boosted sales of new luxury fragrances in key markets.