Source: us.burberry.com
According to a press release issued today, Accelerated Analytics Customer Coty Inc. (NYSE: COTY) has entered into an agreement to acquire the long-term global license rights for Burberry Beauty luxury fragrances, cosmetics and skincare. Under the agreement, Coty will develop, manufacture and distribute the full range of Burberry Beauty products globally. The exclusive agreement will take effect in October of this year, subject to regulatory approvals.
Camillo Pane, CEO Coty, said, “We are proud to welcome Burberry as a strategic partner of Coty. We look forward to growing further Burberry’s luxury beauty products using Coty’s world-class expertise in developing and bringing to market beauty brands.”
Burberry, which moved its beauty division in-house in 2013 after licensing it to a third party, said it would retain creative control of the division, while benefitting from “Coty’s deep beauty industry expertise and first-class global distribution.” Known for its British-made trenchcoats, Burberry’s fragrances include My Burberry and Mr. Burberry and it has expanded into cosmetics in recent years to help introduce its brand to younger consumers.
Coty and Burberry will work in partnership on delivering best-in-class creative executions and leverage Coty’s global capabilities in beauty strategy, innovation, supply-chain and go-to-market. Burberry beauty products will be sold in leading luxury beauty retailers globally as well as in Burberry stores and digital channels.
Commenting on the strategic partnership, Christopher Bailey, Chief Creative and Chief Executive Officer, Burberry, said, “We are delighted to partner with Coty, a world leader in luxury fragrance and make-up. Working with a global partner of Coty’s scale and expertise will help drive the next phase of Burberry Beauty’s development and position this business for growth.”
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Accelerated Analytics provides retail POS reporting and analytics by brand and by house for over 20 retailers for Coty’s Philosophy brand and their newly acquired P&G brands.
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