Coty renews Jil Sander deal, will take it into ultra-premium perfumes for first time
Beauty giant Coty has renewed its license agreement with luxury label Jil sander and said they’ve reached a “mutual decision to proceed with a long-running partnership between the two companies” that will raise the fashion label’s game in the luxe perfumes sector.
The renewal of the deal 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 [the] global ultra-premium fragrances segment for the first time ever”.
It’s all part of the strategy of owner OTB to drive growth at the Jil Sander brand that it acquired back in 2021.
Coty CEO Sue Y Nabi referenced the “international recognition and huge success” of the label in recent years under Lucie and Luke Meier’s creative control, and added that “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.”
The move is yet another example of brand owners aiming for their multiple activities to be in sync with each other. It means the days when a luxury label might create mid-market scents and other products at very different price points are rapidly receding.
Ubaldo Minelli, Jil Sander and OTB Group CEO, said: “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 [the] Jil Sander brand in the luxury market while bringing the partnership with Coty to a new elevated global vision for the next 10 years.”
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