Coty Announces Extension of License Agreement With Jil Sander
12 Janeiro 2023 - 8:00AM
Business Wire
Today, Coty, one of the world’s largest beauty companies with a
portfolio of iconic brands across fragrance, color cosmetics, skin
and body care, and Jil Sander are happy to announce the renewal of
their license agreement as well as the mutual decision to proceed
with a long running partnership between the two companies.
The renewal of the license agreement will strengthen the
existing business partnership while paving the way for a brand new
10-year strategic project, which will see Jil Sander brand stepping
into global ultra-premium fragrances' segment for the first time
ever. The agreement is perfectly aligned with the strategy of
further growth of the brand, which has been set by OTB Group after
the acquisition of Jil Sander in 2021.
Sue Y. Nabi, Coty’s CEO, said: “We are very pleased to extend
Coty’s long-term partnership with Jil Sander, a rich shared history
dating back to the 1980s. Over the past few years, Jil Sander’s
collections have received international recognition and huge
success, resonating with consumers across the world. Our shared
ambition of accelerating the brand’s momentum will guide the latest
chapter of our partnership, as we pursue further growth of the
fragrance line. Our future strategy will focus on aligning Jil
Sander fragrances with the brand’s fashion division, which appeals
to the global ultra-premium market. We look forward to continuing
our relationship as we work together in building on this fragrance
powerhouse’s outstanding potential.”
Ubaldo Minelli, Jil Sander and OTB Group CEO, commented: "We are
very glad to strengthen on a new basis our partnership with Coty
and to focus specifically on the global ultra-premium segment,
which Jil Sander brand naturally belongs to. This new milestone
will strongly contribute to consolidate and further expand the
current solid positioning of Jil Sander brand in the luxury market
while bringing the partnership with Coty to a new elevated global
vision for the next ten years".
Under Lucie and Luke Meier's creative direction since 2017,
through the sensibility of streamlined cleanliness, JIL SANDER has
managed to modernize traditional concepts of luxury and elegance,
and continues to enrich the fashion world with its distinctive
quality. The joint future developments will continue to pursue the
brand's vision of beauty and fashion combined to the fragrances
world.
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. Coty serves
consumers around the world, selling prestige and mass market
products in more than 130 countries and territories. Coty and our
brands empower people to express themselves freely, creating their
own visions of beauty; and we are committed to making a positive
impact on the planet. Learn more at coty.com or on LinkedIn and
Instagram.
About Jil Sander, S.p.A.
JIL SANDER, the high-end luxury brand, is the epitome of
modernity and sophistication. Its unconditional dedication to
design combines elegance and purity with innovative materials and
exceptional craftsmanship. The refinement of cuts and the
perfection of details give form to an approach to fashion defined
by deliberation, rigour, and high quality. Creative Directors Lucie
and Luke Meier have led the brand since April 2017. In March 2021,
the JIL SANDER house was acquired by OTB, joining the fashion
group’s stable of luxury brands.
Learn more at jilsander.com or on Instagram.
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version on businesswire.com: https://www.businesswire.com/news/home/20230112005151/en/
For more information: Investor Relations Olga
Levinzon +1 212-389-7733 Olga_Levinzon@cotyinc.com
Media Antonia Werther +31 621 394495
Antonia_Werther@cotyinc.com
For more information: corporate_communication@otb.net
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