The licenses will move over to Puig on 1 February 2011, joining fashion brands such as Nina Ricci and Carolina Herrera, as well as retail names Mango and Zara and celebrity names Shakira and Antonio Banderas.
Covering multiple years, the worldwide license involves the creation, development and distribution of luxury fine fragrances under the Valentino name.
Next year will see the first fruits of the deal when new fragrances will be developed, Puig spokesperson Berangere Drevon-Balas Simottel told CosmeticsDesign-Europe.com.
Translating brand image to fragrance
According to Puig, the brand image has ‘tremendous potential’ to be translated in the fragrances arena – something that the company claims to be one of its strengths.
For Valentino, the new deal allows it to develop a new vision for the house’s fragrance.
“Through the association with Puig, we are confident that our new vision of the modern, unconventional and unexpected woman who naturally embodies elegance, coolness and modern lifestyle will be effectively communicated,” said Valentino creative directors Maria Grazia Chiuri and Pier Paolo Piccioli.
Both companies have said they see the partnership as a long term relationship.
Puig says the deal fits well its decision to focus on longer term partnerships, as its CEO explained: “This association helps us in our idea to focus on fewer yet stronger brands, build those businesses on a long-term basis and continue with our aim of becoming a growing and relevant player in the beauty business.”
Valentino said it is ‘enthusiastically beginning’ what it sees as a ‘long-term successful relationship’ in the category.