Coty has completed the acquisition of the exclusive long-term global licence rights for Burberry Beauty luxury fragrances, cosmetics and skincare.
The deal was first announced in April. Coty will have overall responsibility for strategic direction on the development of the Burberry Beauty portfolio. Burberry will lead on creative elements.
“We are pleased to complete this transaction and move forward with our strategic partnership, combining Burberry’s British heritage of innovation, craftsmanship and design with Coty’s expertise and leadership in luxury beauty products,” said Coty CEO Camillo Pane. “Coty’s world-class ability in developing and bringing to market beauty brands will help drive a new phase of development and growth for Burberry Beauty.“
Coty Luxury President Edgar Huber commented: “As an iconic luxury brand, Burberry fits perfectly with Coty Luxury’s portfolio, which includes contemporary and globally relevant luxury beauty brands. We are uniquely positioned to develop Burberry Beauty to the next level. This is another significant step in building Coty’s Luxury division.”
Burberry CEO Marco Gobbetti said: “Following months of hard work to ensure a smooth transition, we are pleased that this strategic partnership, which brings together tremendous beauty experience and expertise, has begun. Burberry is incredibly proud of what has been achieved in the last four years and we look forward, with the support of Coty, to further building on these foundations.”
