RAPAPORT... Tiffany & Co. has
announced a licensing deal with global beauty company Coty to sell fragrances
at the jeweler’s stores and other select luxury retailers.
The two companies have
entered into an agreement to develop, produce and distribute Tiffany fragrances
for men and women, according to a joint statement January 27.
“Tiffany is among the
world’s most important houses of luxury, and fragrances are an important
expression of the brand,” said Frédéric Cumenal, Tiffany’s chief executive
officer. “We are pleased to work with Coty, an industry leader in the prestige
fragrance category, on the development of a more meaningful fragrance portfolio
through this licensing agreement.”
Founded in Paris in 1904, Coty’s portfolio includes
well-known fragrances, color cosmetics and skin and body care products sold in
more than 130 countries and territories. Net revenue in fiscal 2015 was $4.4
billion, according to the statement.
|
|
|
|
|