Coty reaches licensing agreement for perfume series with Italian fashion brand Etro

Coty has signed a licensing agreement with Etro to produce its fragrance range. Under a deal that will last "beyond 2040", the beauty giant will develop and distribute all of the Italian luxury fashion house's fragrances and home scent skus. It will also explore new categories to further expand Etro's beauty portfolio.

This is Etro's first beauty license, as the company's fragrances have until now been developed in-house.

The deal is part of Coty's strategy to build its reputation as the go-to partner for fashion and beauty licensing. "Etro is an iconic brand with a long tradition of excellence that is reflected in every aspect of its business," said Coty CEO Sue Nabi. This agreement further underscores Coty's focus on fashion-driven licenses with significant multi-category potential that resonate with consumers in our key markets."

Coty this month signed a licensing deal with Italian fashion house Marni, further strengthening its presence in the luxury fragrance space. It also renewed fragrance licensing agreements with Dutch fashion brand Mexx and German underwear brand Bruno Banani. It's no surprise that the company's sales grew by double digits in the first quarter of 2024, given the demand for luxury fragrances.

Etro CEO Fabrizio Cardinali said the partnership marked an Exciting Chapter for the fashion company in creating beauty products. "This collaboration will allow us to leverage synergies between our companies while leveraging Coty's expertise and industry-leading capabilities."