by: Dr. Marlen Elliot Harrison
On January 12th, 2016, Coty Inc confirmed that it will acquire ten fragrance licenses from the Procter & Gamble group pending regulatory approval and transaction completion, reports Businesswire.com. Established in France in 1904, Coty is a global leader in the fragrance industry with such brands as Calvin Klein, Davidoff and Marc Jacobs.
Coty intiially garnered fame for groundbreaking fragrances such as Chypre, L'Aimant, Muguet des Bois, L'Origan, and Emeraude, now widely considered as forerunners to similar masterpieces of the time. The beauty company was one of the first to market perfume to mass audiences in bottles that allowed fragrance to be affordable and accessible. The strategy was a huge success, and Coty helped make perfume the international mass-market product it eventually became. Today, Coty's brands are found in over 130 countries worldwide as part of its Prestige division and they also continue to produce affordable classics such as Aspen, Gravity, Exclamation and Stetson.
The ten licenses acquired by Coty in this agreement are Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney, and Alexander McQueen.
Coty has been praised for its range of innovative products, consistent creativity in aroma and packaging, and compositions developed by top perfumers; they have also been criticized by many modern fragrance lovers for creating products that suffer from poor longevity. The latter may be due to recent restrictions on certain perfumery materials.
We'll keep you updated on this exciting acquisition by Coty.
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