Coty and Puig extend partnership with fragrance deal
Under the agreement Coty, which claims to be the world’s largest fragrance company, will distribute the products of the Spanish film star across the Atlantic from January 1, next year.
Established distribution partnership
Coty has already developed an established relationship with Puig as one of its distributors of choice in oversees markets.
Coty currently distributes a number of prestige brands, such as Prada, Nina Ricci, Carolina Herrera and Paco Rabanne, for Puig in the United States and Canada.
Adding the Antonio Banderas brand to the list strengthens the existing distribution partnership between Coty and Puig.
Reaction to the fragrance deal
Coty CEO Bernd Beetz: “The new synergy between Coty Beauty and Puig provides a unique opportunity to grow both our portfolios simultaneously.
“We look forward to leveraging our leadership in the beauty industry to foster growth of the Antonio Banderas franchise and other Puig fragrances in the U.S. and Canadian markets.”
Coty brings in annual revenues of around $4bn and has a wide portfolio of prestige and mass market fragrance and beauty brands including Calvin Klein, JOOP!, Playboy and David and Victoria Beckham.
Putting forward his comments on the extended partnership Marc Puig, CEO, Puig Beauty & Fashion Group, said: “Working with Coty Beauty, we have developed a collaborative formula for success,”
“We know that Coty is the right partner to expand our strategic initiative for our mass brands business and anticipate another successful partnership.”